{"id":2260245,"date":"2024-06-05T09:12:02","date_gmt":"2024-06-05T13:12:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/some-question-why-video-gambling-tax-increase-should-benefit-chicago\/"},"modified":"2024-06-05T09:16:12","modified_gmt":"2024-06-05T13:16:12","slug":"some-question-why-video-gambling-tax-increase-should-benefit-chicago","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/some-question-why-video-gambling-tax-increase-should-benefit-chicago\/","title":{"rendered":"Exploring the Reasons Behind Chicago&#8217;s Video Gambling Tax Hike"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsome-question-why-video-gambling-tax-increase-should-benefit-chicago%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2260245&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Democratic lawmakers\u200d in Illinois seek to \u200bincrease Chicago&#8217;s share of revenue from video gambling, proposing a 35% tax hike on the industry.\u200c Gov. J.B. Pritzker considers this late addition \u2064to the $53.1 billion <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/republican-announces-california-gubernatorial-run-as-newsom-recall-nears-threshold\/\" title=\"Republican Announces California Gubernatorial Run as Newsom Recall Nears Threshold\">state budget<\/a>, anticipating an extra $35 million in revenue. Springfield \u2064Mayor Misty Buscher discusses concerns \u2063raised by the Illinois \u200cLicensed Beverage Association regarding tax \u2063burdens on \u200bsmall \u2064businesses.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<div>\n<p>(The Center Square) \u2013 Video gambling is a huge cash cow for the state of Illinois and Democratic lawmakers want a bigger slice of the pie for Chicago.<\/p>\n<p>A late addition to the $53.1 billion state budget that Gov. J.B. Pritzker is considering would raise the tax on the industry to 35%. The Pritzker administration estimated that the tax hike would generate an additional $35 million next fiscal year.<\/p>\n<p>Springfield Mayor Misty Buscher said she recently met with the Illinois Licensed Beverage Association, which <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/they-are-lying-to-you-states-that-claim-that-audits-of-a-few-machines-and-ballots-will-confirm-election-validity-are-just-plain-lying\/\" title=\"They are Lying to You \u2013 States That Claim That Audits of a Few Machines and Ballots Will Confirm Election Validity Are Just Plain Lying\">voiced concerns<\/a> about more taxes on small businesses.<\/p>\n<p>\u201cWith the minimum wage going up and the Paid Leave for All Workers Act, there have been a lot of additional expenses on small business, so they were very concerned about their revenues,\u201d Buscher said at an unrelated news conference in Springfield this week.<\/p>\n<p>Separately, Springfield, Illinois Mayor Misty Buscher and state Rep. Jeff Keicher, R-Sycamore, discuss a tax increase on video gambling terminals as part of the approved state budget.<\/p>\n<p>Over 45,000 video gaming terminals (VGT) were in operation in Illinois at the end of last year. Springfield has more video gaming terminals than any other city in the state, with nearly 140 businesses offering the machines.<\/p>\n<p>Chicago\u2019s City Council has maintained its ban on VGTs since the state legalized the gaming machines for businesses holding liquor licenses in 2012.<\/p>\n<p>During debate of the state budget last week, state Rep. Jeff Keicher, R-Sycamore, noted that funds from video gaming downstate are funneled to Chicago.<\/p>\n<p>\u201cAll of these VGT revenues that are being raised outside the city of Chicago seem to be going and supporting significant projects in the 13th Ward, in the 26th Ward, Chicago Public Schools,\u201d said Keicher.<\/p>\n<p>Keicher said imagine the pot of money for capital projects in Chicago would enter the VGT world. A measure to allow video gaming terminals in the Windy City stalled in the Illinois General Assembly before lawmakers adjourned for the summer.<\/p>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER<\/a><\/strong><\/p>\n<p>Video gaming isn\u2019t the only part of the industry the state wants a bigger cut of. Also included in the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/illinois-sued-over-proliferation-of-license-plate-reading-cameras\/\" title=\"Legal action against Illinois for excessive use of license plate reader cameras\">budget legislators approved<\/a> is a tax hike on sportsbook operators. The original plan would have increased the tax from 15% to 35%. A new tiered plan would tax sportsbook operators at 20% if their earnings are below $30 million, but 40% if their earnings are above $200 million.<\/p>\n<p>Sports betting companies said if signed into law, higher taxes would mean worse odds and fewer promotions for users. The companies also warn the tax hike may drive all but the top three sportsbooks out of Illinois.<\/p>\n<\/p><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Video gambling in Illinois generates substantial revenue, prompting Democratic lawmakers to propose increasing Chicago&#8217;s share. A last-minute addition to Gov. J.B. Pritzker&#8217;s $53.1 billion budget includes a 35% tax hike on the industry. The administration is evaluating this proposal<\/p>\n","protected":false},"author":1,"featured_media":2260246,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/06\/iStock-1458001516-1024x683.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-2260245","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/06\/iStock-1458001516-1024x683.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2260245","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2260245"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2260245\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2260246"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2260245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2260245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2260245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}