Mayor Rahm Emanuel is considering an increase in city taxes on cigarettes and entertainment to help close an anticipated $369 million gap in next year’s budget, City Hall sources said Wednesday. …
It’s unclear how much the cigarette tax might be raised. A city tobacco tax increase would come on the heels of a $1-a-pack state hike that took effect July 1. The city last increased its cigarette tax by 20 cents — to 68 cents a pack — in 2006.
Taxes on a pack of cigarettes in Chicago total $5.67, the second-highest per-pack tax in the nation, behind New York City’s $5.85 a pack. The city expects to bring in $18.7 million in cigarette taxes this year, compared with $32.9 million just six years ago, according to city financial records.
via Chicago Tribune.
Cook County has already proven that when you raise cigarette taxes you lose revenue. The city’s own numbers are another example of that.
Does Rahm have any plan to cut ANY spending? Anything other than police officers?
Why don’t we shut down the TIFs? Take fund necessary to pay off the bonds and do so; take the rest of the funds and return them to the general fund. That would be quick and easy.
Enough with the !@#$^ taxes.