Illinois considers repealing business tax responsible for big headaches, little revenue – Illinois Policy

House Bill 2846, if passed, eliminates the state’s franchise tax, which is a tax for the privilege of doing business in Illinois. It’s a misleading name because the tax doesn’t just apply to business franchises, it applies to businesses of all sizes. It raised about $200 million last fiscal year in a state planning to spend $55.2 billion in the coming fiscal year.

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Mark Glennon on AM560’s Morning Answer: Chicago pension buyout plan mostly shifts debt rather than eliminating it, property tax surge doubles inflation over three decades

Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.

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