David Harris

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Business & Lifestyle

Illinois’ new parking tax takes effect Jan. 1; critics say it will cost jobs

SPRINGFIELD (The Center Square) -- To help generate $45 billion in new revenue for the Rebuild Illinois infrastructure plan, the state will start taxing parking businesses on Jan. 1. The tax will be 6 percent of the parking rate for hourly, daily or weekly parking. The tax rate will be 9 percent on monthly or yearly parking spaces. The new monthly revenue will then be used to pay for general expenses with the infrastructure plan. Because the tax doesn’t qualify […]

todayDecember 22, 2019 7

Decision 2018

In spite of tax hike, ratings agency eyes change that could junk Illinois

SPRINGFIELD (Illinois News Network) -- Illinois could be on the fast track to a junk credit rating, despite lawmakers assuring that a tax hike in July would keep the state from the infamous designation. “If we don’t get this done we will become the first state in the history of the United States of America to be in junk bond status,” state Rep. Mike Unes, R-East Peoria, said this summer. He and several other Republicans joined Democrats in overriding Gov. […]

todayDecember 14, 2017 3

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