Totaling the unsustainable tax increases and windfall revenue during Pritzker Administration – Wirepoints
May 26, 2026
23 Comments
With $162 billion more from taxpayers, couldn’t you deliver a few bond upgrades, too
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A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
Don’t look now but Arkansas is on it’s way to being the new TN. Gov Sanders has cut the income tax a third time down to a top of 3.9% for individuals and a top corp of 4.3%, all retroactive to Jan 1. Gov Sanders has vowed to eliminate the income tax altogether.
There’s no income tax to cut in TN or FL for that matter. Good for her however.
Seems to be one of the more responsible alderman. The city needs more tax revenue and is gathering feedback as to the more acceptable tax increases. Since the city doesn’t want to cut spending then more taxes will be required.
What about the lost revenue that is earmarked to TIF districts? There are billions going special interest/politically connected companies-people/etc. If there was a moratorium of all TIF money and give that to pay bills there is no need to increase taxes. I believe the Willis tower TIF basis was approx $400M but sold for over $1.1B a few years back but the taxes collected from the basis goes to pay for services but the rest who knows. They pay around $23M in taxes but only 7.6M for local taxing bodies. That is only 1 building so how many more are… Read more »
With respect Freddy, there just isn’t enough TIF money. I believe the city has about 2 billion in TIF money and owes over 50 billion in pension debt. It may prevent tax increases for a little bit but serious cuts would be required if the voters don’t want their taxes to increase. Nothing in recent elections, including electing BJ, indicates that voters want to tighten their fiscal belt.
Your point is valid but the $50 billion in pension debt is owed over time probably many years or decades not all at once. So $2B per year would put a small dent now and you must add in the compounding effect of $2B this year and another $2B next so now $4B and so on. What the returns will be is anyone’s guess but even in a 4% money market and somewhat more in various markets will add up. This in turn will keep taxes lower and hopefully will allow more equity to grow on properties then getting more… Read more »
Freddy, It’s not 2 billion per year but rather 2 billion that’s been accumulated. I compared accumulated funds with accumulated date to keep it apples to apples. While I’m not a fan of TIFs, the yearly money that is collected is also spent on items that local leaders want. You could get rid of TIFs (which would be more transparent) but that money would still be spent or you would need to make cuts. The voters don’t support candidates that want to cut spending so you are right back where you started. I agree that it would be better to… Read more »
Voters got and will get what they deserve as long as they stay in IL. Astute voters including many teachers no doubt have exit plans to maximize personal benefit. Nothing wrong with planning … many will time it right but all lack perfect insight. They’ll still get what they deserve which is whatever the future delivers or fails to deliver. Not necessarily what politicians promised or what
partisans predict.
Those parking meters should would come in handy right about now.
Long gone is the Chicago my folks moved here for-“city of big shoulders” / epicenter of commerce & industry, economic growth envy of the world. Replaced with what? Does CTU/Brandon or any of his “new machine” crew even believe in increasing tax REVENUE by growing the economy? Or just some fantasy economy/ tax REVENUE structure based on rewriting history, reparations & equity hustle???? Where conveniently for him (& his crew), in only 16 yrs in Chicago, he can enjoy his guaranteed upper-income deal & retirement on the backs of hard working taxpayer/homeowners and still claim EQUITY is truly a salacious… Read more »
“First we get the money.”
Ask Biden to support his illegals not the taxpayer………..out of his personal stash!
Gotta prioritize: more cops, more teachers, more immigrants, more empty busses, more empty schools, fatter retires headed to FL, more salaried art docents, more plumbers + copper pipes with good resale value, more meals/day at schools + daycare???? Buy what’s needed most from what’s available. The withdrawal window is closed due to fiscal emergency.
Maybe all you politicians should look in your bank accounts and contribute to all your own w.t dreams and leave the taxpayer alone for a change. Just sayin’ with all the raises and goodies ya all get you should have something left over!!
How about a LGBT or flying a rainbow flag tax?
What’s the over/under on how many days before we start hearing about a commuter tax again?
I think that will be brought up in 60 days.
Why are they talking new taxes, isn’t everything currently running like a Swiss
Watch? Taxes on the Mag mile not doing well? How’s about those property taxes?
Heat up the popcorn open a cool one, the
DNC is about to start, what a show a real
Knee slapper!
Just imagine the country, let alone Illinois, where oil is no longer traded in US dollars.
Watch what will happen don’t forget the dying tax, if you die in Chicago 10% of your
Estate. The popular burial tax, 10% of your funeral cost. How about a fee of 500.00 to provide a death certificate to prove you are dead. All the new taxes will not apply on the poor folk, as the rich folk just move out.
Lookout soon no rich folk around to tax,
Jumping Jehoshaphat what now Zippy!
Illinois people love to spend money and if they don’t have money they simply borrow and continue spending. The current problem is though that the pension funds are running out of funds so more taxes are needed. This is a very simple math problem but, as recent school report cards show, Illinois educated individuals, which I assume includes most Illinoisans, are not very accomplished at mathematics. Each and every day more entitlements are dangled in front of the voters who never ask what something costs because after all things provided by the Government are free aren’t they? That’s the Illinois… Read more »
Yep, without COVID bucks, new and increased taxes and fees in IL will abound. For those who stick around into the next decade, watch what happens to your already crazy-high PTs.
There shouldn’t have been a no checkbox. He should have just had a pre-selected yes box. Just as Will Rogers never met a man he didn’t like, so too the Democrats never met a tax increase they didn’t like.