Cook County Board Votes To Raise Sales Tax
From the Chicago Tribune
Cook County Board President Toni Preckwinkle persuaded just enough commissioners to approve a 1-percentage-point sales tax increase Wednesday — the culmination of a major political about-face, but a move she said was needed to bail out the county worker pension system.
Following weeks of one-on-one lobbying sessions by Preckwinkle, nine of the 17 commissioners voted to raise the county share of the sales tax to 1.75 percent. Add up the state, city and public transit portions, and the total sales tax rate in Chicago once again will hit 10.25 percent — one of the highest rates in the nation.
That means after Jan. 1, when the sales tax hike goes into effect, buying a $1,000 item, such as a new washer and dryer, would cost an extra $10. The total sales tax on such a purchase would be $102.50.
The most controversial vote of Preckwinkle's five-year tenure, which came after 4 1/2 hours of testimony, debate and parliamentary maneuvering, was replete with irony.
Preckwinkle first rose to power in 2010 on a campaign pledge of repealing what remained of an identical sales tax increase under predecessor Todd Stroger. She even ran a TV ad featuring a Ben Franklin impersonator in which she reminded voters that "a penny saved is a penny earned."
Preckwinkle kept that pledge in part by cutting payroll, streamlining operations, reducing the number of jail inmates and taking advantage of increased federal funding under the Affordable Care Act for the county's vast public health system. After winning re-election without opposition, however, she pushed the sales tax hike as a way to restore financial health to the county's underfunded pension system, cover payments for debt incurred before she took office and spend more on roads and bridges.
Read more in our daily News Update...
From the Chicago Tribune
Cook County Board President Toni Preckwinkle persuaded just enough commissioners to approve a 1-percentage-point sales tax increase Wednesday — the culmination of a major political about-face, but a move she said was needed to bail out the county worker pension system.
Following weeks of one-on-one lobbying sessions by Preckwinkle, nine of the 17 commissioners voted to raise the county share of the sales tax to 1.75 percent. Add up the state, city and public transit portions, and the total sales tax rate in Chicago once again will hit 10.25 percent — one of the highest rates in the nation.
That means after Jan. 1, when the sales tax hike goes into effect, buying a $1,000 item, such as a new washer and dryer, would cost an extra $10. The total sales tax on such a purchase would be $102.50.
The most controversial vote of Preckwinkle's five-year tenure, which came after 4 1/2 hours of testimony, debate and parliamentary maneuvering, was replete with irony.
Preckwinkle first rose to power in 2010 on a campaign pledge of repealing what remained of an identical sales tax increase under predecessor Todd Stroger. She even ran a TV ad featuring a Ben Franklin impersonator in which she reminded voters that "a penny saved is a penny earned."
Preckwinkle kept that pledge in part by cutting payroll, streamlining operations, reducing the number of jail inmates and taking advantage of increased federal funding under the Affordable Care Act for the county's vast public health system. After winning re-election without opposition, however, she pushed the sales tax hike as a way to restore financial health to the county's underfunded pension system, cover payments for debt incurred before she took office and spend more on roads and bridges.
Read more in our daily News Update...