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Under the proposed amendment, transportation funds may be used by the State or local governments only for the following purposes: (1) costs related to administering transportation and vehicle laws, including public safety purposes and the payment of obligations such as bonds; (2) the State or local share necessary to secure federal funds or for ...
A 2017 study in the Journal of Public Economics found that "a VMT tax designed to increase highway spending $55 billion per year increases annual welfare by $10.5 billion or nearly 20% more than a gasoline tax does because: (1) the differentiated VMT tax is better than the gasoline tax at targeting its tax to and affecting the behavior of those ...
The RTA sales tax was increased to 1.25% in Cook County, and 0.75% in the collar counties (from 1% and 0.25%, respectively), but one-third of the sales tax collected in the collar counties (i.e. 0.25%) is distributed directly to the counties [39] and the county boards may use that money for transportation or public safety purposes. [40]
If you're an Illinois resident or business owner, you have until April 18, 2023, to file your Illinois state income taxes. If you're expecting a refund this year, this quick guide explains how to...
In fiscal year 2007, the Illinois Department of Revenue expected to collect $24.6 billion in taxes and gambling revenues, about five-sixths of the state's general funds revenues for the year. IDOR expected to keep $1.0 billion of this sum (4.0%) to cover the costs of its own operations, and expected to transfer the rest to the office of the ...
The White House said the fund would "facilitate access to lower cost capital for small- and medium-sized auto manufacturers to refinance, grow, and diversify their businesses" and noted that more ...
Illinois is one of 11 U.S. states with a flat income tax; seven states have no income tax; 32 other states use graduated income taxes, which tax higher incomes at a higher rate. [5] The last state to switch from a flat state income tax to a graduated state income tax was Connecticut in 1996.
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