While many states struggle to fill budget gaps, the state of Indiana took in $150 million more than expected during the month of May. State officials reported Friday that sales tax collections were $28 million above May collections last year.
The president of the Illinois Senate says he wants lawmakers to consider taxing income earned by retired people in the state. State Sen. John Cullerton, D-Chicago, said that doing so could raise up to $1.6 billion.Currently, most retirement income is not taxed by Illinois.
As the Bears get set to host the Seattle Seahawks in their divisional playoff this Sunday, Chicagoans are starting to come together like they did when the Blackhawks glided toward hockey’s Stanley Cup last spring.The excitement brings to mind some words of a 19th century German philosopher: &l
Democrats in Springfield have approved a major tax increase. The Illinois House and Senate passed a bill to raise the income tax by 67 percent. Under the plan, corporate taxes would also go up.Democrats spent days scrambling to retool the package.