Illinois Quick Hits: S&P Global joins Fitch by raising Illinois bond rating

Illinois Quick Hits: Cook voters approve non-binding millionaire tax referendum

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(The Center Square) – Cook County voters have expressed support for a proposed state constitutional amendment that would impose a 3% income tax charge on millionaires.

With 100% of precincts reporting, 71.5% of suburban Cook County voters approved the non-binding referendum asking if Illinois should enact the tax and provide 50% of the revenue generated for property tax relief and 50% for public education.

Also, 80.65% of Chicago voters favored the measure with 1232 of 1291 precincts reported.

A proposed constitutional amendment resolution, HJRCA 21, failed to clear the General Assembly last spring but could still be passed in the coming months to place the amendment on the general election ballot in 2028.

Parking workers authorize strike, picket Pritzker event

Many Teamsters Local 727 workers remain on the job after more than 98% of members authorized an unfair labor practice strike against Chicago-area parking operators.

Several members picketed on Tuesday night at Navy Pier, where Gov. J.B. Pritzker delivered his victory speech as supporters cheered his election to a third term.

The Teamsters strike vote came as negotiations continue with the Chicago Parking Association, whose operators run garages and lots at area airports, hospitals, hotels, office buildings and entertainment venues.

Freedom caucus calls Tuesday ‘an absolute disaster’

The Illinois Freedom Caucus says Election Night was an absolute disaster for Statehouse Republicans.

In a statement released early Wednesday, caucus members pointed to the GOP declining from 54 Illinois House seats in 2019 to “an extraordinary low” of at least 35 seats after Tuesday’s results.

Fuel prices drop

Illinois gas prices dropped overnight and are now lower than they were one month ago. AAA said the state’s average price for regular unleaded was $4.64 a gallon on Wednesday, down from $4.68 on Tuesday and $4.67 on October 4. The Illinois average one year ago was $3.23.

AAA pegged Wisconsin’s average at $4.15 on Wednesday. Indiana was at $3.75. The other states bordering Illinois came in under $4 a gallon.

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