Today is Tax Day for Americans. A day when small business owners like myself settle our federal and state income tax obligations. No matter how much we prepare, the payments always seem to sting more than expected, taking a bigger bite than we had hoped.

And we’re left wondering, where does all that tax money go?

For years, Chicago had the benefit of receiving a share of the Illinois state income tax based on population, providing essential support for city services. However, after decades of our state leaders down in Springfield passing bloated budgets and pension holidays, the State of Illinois keeps those funds and forces cities like Chicago to find other ways to generate revenue just to stay afloat. Unfortunately, year after year, Chicago leaders have shown little creativity to develop solutions outside of raising taxes that further burden Chicago families, a reason many families say they choose to leave for the suburbs.

Equally troubling is the lack of accountability for our state leaders, who have not been pressed to restore the local distributive share of income tax that rightfully belongs to Chicago’s citizens. Instead of relief for families and funding for essential city services, politics too often prevails. Most recently, state-wide leaders in Springfield passed legislation that increases pensions for Chicago government workers but failed to identify any revenue to actually fund that change, and in an instant adding an estimated $12 billion in additional costs to the city. And yet, barely anyone has spoken out.

Meanwhile, once again Chicago residents are expected to bear this burden with property tax rates rising at nearly twice the rate of inflation, and Chicago’s sales tax remains among the highest in the nation. And these taxes don’t just hit property owners. They contribute to skyrocketing rents and an increasing cost of living.

After years of financially irresponsible decisions, and no signs of stopping, our elected leaders have us paying roughly 43 cents of every tax dollar toward pensions and debt service before a single city service – before a new police officer is hired, before garbage is collected, before parks are improved, and before potholes are repaired.

It is no wonder that Chicago’s population has declined even as city spending continues to grow. We are caught in a vicious cycle of rising costs, mounting debt, and diminishing services. Breaking this cycle requires courage and a commitment to fiscal responsibility.

This is what Leading a Better Chicago is all about.

Our mission is to bring together thought leaders, innovators, and Chicagoans from every neighborhood to develop practical, forward-thinking solutions to the city’s problems – starting first with finances. We are focused on:

• Generating new revenue from sources beyond property and sales taxes.
• Holding all leaders accountable for returning funds that belong to Chicago’s residents.
• Reducing reliance on Wall Street debt by redirecting financial resources into investments that benefit our local economy.
• Restoring essential city services, including public safety and neighborhood infrastructure.
• Paying down long-term liabilities to secure a stronger future for the next generation.

Chicago remains a marvel of the Midwest, defined by resilient communities and extraordinary people. With a break from the old and responsible leadership and innovative thinking, we can ensure that the city not only stabilizes but thrives once again.

So, as we write our checks this Tax Day, let’s work toward a future where we can feel confident that our local government is making our lives safer, more affordable, and more prosperous and that at least some of those hard-earned dollars are truly working for us.

To learn more about this effort, please visit leadingabetterchicago.com.

Sincerely,

Bill Quinlan

Founder, Leading a Better Chicago