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Working on the holiday weekend, the Illinois Senate approved of a $53.1 billion budget late Sunday night. Here's what you need to know. Grocery tax eliminated under $53.1 billion budget approved ...
Illinois will end a statewide grocery tax while giving cities the option of replacing it with a local tax or doing without the revenue. Some call ending Illinois' grocery tax a 'sham.' Others say ...
The end of the grocery tax in 2026 will leave a $4 million hole in Peoria's budget. Pritzker said it is up to municipalities to make their own decisions on how to replace the tax.
If the general assembly approves an end to the grocery tax, it could take affect on July 1, which would mean Peoria could stand to lose $1.7 million in 2024 and $4 million annually moving forward.
Beginning July 1, Illinois began suspending its 1% grocery tax for the next year to help residents keep more money in their pockets as prices continue to rise nationwide. Illinois is only one of 13...
However, that the state tax on food in Illinois is suspended until June 30. Local taxes still apply, and the state taxes candy, soft drinks, and alcohol at its regular 6.25% rate.
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Grocery tax repeal has bipartisan support. Weiland disputes those legal interpretations, which could end up being debated during the 2025 legislative session or resolved in a court of law.