Thanks to an unspecified amount of federal stimulus money, Cook County residents could start paying less in sales tax beginning Jan. 1, 2010.
Thanks to an unspecified amount of federal stimulus money, Cook County residents could start paying less in sales tax beginning Jan. 1, 2010. “Cook County now anticipates additional revenue as a result of President Obama’s federal economic stimulus plan and negotiations with the state of Illinois regarding the public health portion of the county’s budget,” said Cook County Board President Todd Stroger. “This has opened the door to a reduction in the sales tax increase.” On Wednesday, Stroger proposed an ordinance to county commissioners to roll back the sales tax to 1.50 percent from 1.75 percent. The reduction means Cook County would lose around $100 million in revenue, said Stroger. “This is not a temporary thing where we would raise the sales tax again,” he told the Defender. “I don’t expect it to go back up.” Stroger declined to say how much the county has collected since the tax increase took effect last year. “I do not have hard numbers in front of me so I do not want to start shouting out numbers that may not be accurate,” he said. Loans the county took out to balance the previous budget are expected to be paid off next year, which would free up more money for the county, Stroger explained. The ordinance now goes before the county’s finance committee, and if it passes, it would then go before the full county board for a vote. ______ Copyright 2009 Chicago Defender. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.