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The Chicago congestion tax could add up to $3 to downtown rideshare single fares in a bid to help close a gaping $838 million budget deficit the city faces.
A proposal to combat traffic congestion in Chicago by increasing taxes on certain ride-hailing trips won city council approval on Tuesday as the city and ride providers accused each other of ...
“They know that they can't do property taxes because people are fed up with that and we saw the Chicago mayor lose his $300 million proposal for property tax increases by 50 to 0.
The result of congestion pricing (Scenario A) in relative to the “no action” alternative is a 7.1% to 9.2% reduction in daily vehicle miles traveled, a 15.4% to 19.9% reduction in the number of vehicles entering congestion zone, and would have an estimated $1.02 to $1.48 billion net revenue for the program.
The RTA sales tax was increased to 1.25% in Cook County, and 0.75% in the collar counties (from 1% and 0.25%, respectively), but one-third of the sales tax collected in the collar counties (i.e. 0.25%) is distributed directly to the counties [39] and the county boards may use that money for transportation or public safety purposes. [40]
An income tax benefit related to the enactment of the Tax Cuts and Jobs Act equal to $833 million contributed to the sizeable ROC ratio during the first half of 2018. Results are expected to moderate somewhat during the second half of 2018 as policyholders exhaust their deductibles and HCSC pays a greater percentage of claims. [3]
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