Category: Taxes

Why Illinois is in trouble: 122,258 public employees earned $100,000+ costing taxpayers $15.8 Billion

Illinois public employees and retirees with $100,000+ paychecks grew from 109,881 (2019) to an all-time high of 122,258 in 2020 – costing taxpayers $15.8 billion.

Congressional “bailouts” made it possible. The recent $1.9 trillion American Rescue Act provided an additional $13.5 billion to Illinois state and local governments.

How will Biden’s climate plan affect everyday Americans

President Joe Biden’s ambitious plan to slash greenhouse emissions by 50 to 52 percent over the next decade could prompt sweeping changes that could affect how Americans eat, drive and heat their homes.

Biden announced the goal to cut emissions by 2030, compared with 2005 levels, at the start of a two-day climate summit on Thursday.

Pete Buttigieg says Biden weighing ‘mileage tax’ on drivers. ‘I think that shows a lot of promise’

U.S. Department of Transportation Secretary Pete Buttigieg said Friday President Biden is weighing a “mileage tax” on drivers as a way to help pay for his forthcoming infrastructure plan that could cost upwards of $3 trillion.

Payback time: Biden to propose first major tax hike since 1993

Joe Biden is planning to propose the first substantial federal tax hike since 1993 for Americans to help pay for his long-term economic program after he signed the largest stimulus package in U.S. history with a price tag of $1.9 trillion.

Four people familiar with discussion told Bloomberg that Biden is expected to propose a series of tax increases, including repealing parts of Donald Trump’s 2017 tax law that resulted in most Americans seeing more in their paychecks, to help fund the latest proposal.

California first to be approved for up to $10 Billion bailout from feds to pay unemployment benefits

As politicians argue over whether or not to bailout decades-long bad decisions on the basis of a sudden virus/lockdown-driven drop in revenues, California has stepped up to the plate with what appears to be a direct request for a bailout to fund the benefits for millions of newly-unemployed residents (and illegal immigrants).

Joe Biden would raise taxes by $4 Trillion; 3x more than Hillary Clinton’s 2016 plan

Former Vice President Joe Biden has positioned himself as a “moderate” in the Democratic nomination race, but his tax plan would raise taxes by $4 trillion over a 10-year period, according to an analysis by the liberal Urban-Brookings Tax Policy Center.

Illinois loses population for 6th straight year, losing more residents than any state this decade

Illinois’ population decreased in 2019 by an estimated 51,250 people, or 0.4%, marking the sixth consecutive year the state has lost residents, according to new data from the U.S. Census Bureau.
Since the turn of the decade, Illinois has lost more residents than any other state, with a drop of about 159,700 people, or 1.2% of its population.