Chicago Set To Have Highest Sales Tax Of Any Major U.S. City

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CHICAGO — The City of Big Shoulders is adding to a specifying features, with a sales taxation set to stand to a top of any vital U.S. city. 

Cook County commissioners voted 9-7 Wednesday to lift a sales taxation 1 elect indicate to a whopping 10.25 percent.  

The increase, corroborated by Cook County house President Toni Preckwinkle, takes outcome Jan. 1. It will beget about $308 million in additional annual revenue, with $270 million of it appropriation pensions, $10 million going to roads and infrastructure, and $25 million to debt service, the Sun-Times reports. 

 “We’re articulate about a devise that will put Cook County on a long-term trail to financial stability,” Preckwinkle said, according to a Chicago Tribune. 

Chicago already has one of a top sales taxation rates among vital U.S. cities. Raising it even aloft was unwelcome news to Windy City business owners. 

“Please contend no to a open apropos a income faucet any and each time a supervision says it needs money,” Craig Horwitz, who owns a valuables store in downtown Chicago’s Water Tower Place, testified to a commission, according to a Tribune. “This is not how one rebounds from a three-year recession.”

High taxes have prolonged been a fact of life in Chicago, and this isn’t a city’s initial brush with a 10.25 percent sales taxation rate. The city had a same taxation rate before Preckwinkle, uninformed off her first-term win as house president, in 2010 rolled behind a county taxation rate 0.5 elect point, lowering Chicago’s taxation rate to 9.75 percent.  A few years later, a county taxation rate was embellished twice more, to a stream 9.25 percent. 

The Tax Foundation told The Huffington Post that while other localities have sales taxation rates aloft than Chicago’s, comparisons are difficult. Some, for example, have high sales taxes to recompense for low income taxes.  

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