Preckwinkle’s 2021 Budget Plan Avoids Tax Hikes, Counts On Extra Money From Online Sales Taxes, Marijuana, And Sports BettingPosted by On

CHICAGO (CBS) — Despite a projected $410 million budget shortfall next year in large part due to the pandemic, Cook County Board President Toni Preckwinkle is proposing a $6.9 billion budget plan that avoids any new taxes, by counting on a mix of “modest” layoffs, eliminating vacant positions, and bringing in additional tax revenue from online shopping, sports betting, and legal marijuana.

“Given the extraordinary times, I’m grateful for the hard work of our team not just this year, but reflects I think the hard work of the last decade, to put us in a place where we can deal with this rainy day so effectively,” Preckwinkle said at a budget briefing Wednesday afternoon, ahead of her budget address to the Cook County Board on Thursday.

Preckwinkle’s spending plan for next year relies on a mix of staffing reductions, increased revenue from existing tax streams, and drawing down on reserve funds.

Under the 2021 budget plan, the county would reduce its overall employee…

Original Author Link click here to read complete story..



Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.