The county hopes to help smokers quit the habit and raise more money with this recent tax hike.
Cook County smokers will have to shell out more than ever after last Friday’s $1 cigarette tax hike. This comes on top of an additional $1 jump on the state level last June. The county is hoping to receive an extra $25.6 million from the increase, but historic examples suggest the figure might be wishful thinking, according to the Chicago Tribune. In additional to the estimated revenue, Cook County Board President Toni Preckwinkle hopes the initiative will deter youths from smoking and help current smokers kick the habit. Get the rest of the story by the Chicago Tribune.
Video gambling, cigarettes, guns and ammo would be taxed under Cook County's new budget plan. Golf and picnic permits at the Forest Preserve would cost more, too.
Targeting smokers, gun owners and gamblers, a slew of new and unusual taxes and fees designed to raise $43 million are proposed for Cook County's $2.95 billion 2013 budget. Board President Tony Preckwinkle released her spending plan Thursday, saying $50 million in spending cuts are planned, too, and 462 open county jobs would be eliminated. But public attention will focus on the taxes: The proposed budget avoids a property tax hike. Nine of 17 commissioners need to vote for Preckwinkle's budget for it to pass. The county projects $25 million would be raised via the cigarette tax. Today, the total federal, state and local tax levied on a pack of cigarettes is $4.67 in Chicago and $3.99 in the Cook County suburbs. The tax on guns and ammo…