Category: Economics

Mayor Lightfood considering $94 million property tax increase, gas tax hike and layoffs

Chicago Mayor Lori Lightfoot is considering a $94 million property tax increase, layoffs for more than 300 city workers and a gas tax hike as part of her plan to close a $1.2 billion budget deficit, sources told the Tribune.
Lightfoot also is considering about $500 million in refinancing city debt to help close the deficit, sources said.

2.5 million jobs gained in May, unemployment rate drops to 13%

The May gain was by far the biggest one-month jobs surge in U.S. recorded history, and unemployment has seemingly hit its peak as employers across the country begin reopening and rehiring laid off workers. However, full economic recovery is expected to be slow, and very much depends on whether there is a resurgence of the virus later this year.

Mike Rowe: Labeling 35 million people as non-essential could have ‘serious consequences’

“It’s the thing we choose to do with the most conscious chunk of our life, and so to reduce it to a paycheck is dumb,” Rowe continued. “Obviously, there’s a giant transactional element involved in it, but there’s so much more.”

Wisconsin bars packed after State Supreme Court overrides governor’s stay-at-home order

Wisconsin bars welcomed patrons without masks, social distancing or capacity restrictions on Thursday night immediately after the state Supreme Court overturned the governor’s latest stay-at-home order, leading to busy crowds and warnings from the governor that lack of restrictions could lead to more deaths.

Illinois Gov. Pritzker threatens to use state police against businesses reopening early

Illinois Gov. J.B. Pritzker is threatening to use local law enforcement and state police against businesses that reopen in defiance of his policies.

The governor gave the stern warning on the same day Madison County officials have gone against the governor’s public health orders and started to reopen.

Dallas salon owner Shelley Luther says she doesn’t regret defying Texas stay-at-home order

The Dallas salon owner who was jailed for refusing to close her business during the coronavirus pandemic has described her two-day stint in lock-up as ‘not pleasant’ – but says she doesn’t regret the decisions that landed her there.