CFO for Cook County, Ivan Samstein, joined the Chamber’s Tax Policy Council meeting on Tuesday, October 18 to discuss the proposed 2017 fiscal budget.
President Preckwinkle has proposed a $4.4 billion Executive Operating Budget for Fiscal Year 2017 along with a $475.7 million capital budget. The President’s budget proposal looks to close a $174.3 million shortfall. In order to close this shortfall, President Preckwinkle has proposed a one penny per fluid ounce tax on sweetened beverages, meaning containing sugar or artificial sweetener like carbonated soft drinks, fruit beverages, sports drinks and energy drinks. The Chicagoland Chamber opposes this proposed tax.
Chamber members were able to discuss their concerns and provide feedback during the meeting.
The County will vote on the budget in November; in the meantime public hearings are ongoing thru October (to see the schedule click here). Also, click here to view the 2017 fiscal budget proposal.