Illinois proposes gambling taxes to finance construction program

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Senate legislators in Illinois looking for cash to finance an ambitious state-wide construction program approved two gambling related measures this week along with other tax proposals. The measures, which gained bi-partisan support, now move to the House for further debate.

Among the sin, vehicle and luxury taxes proposed are bills to introduce private management and online betting on the state lottery, and the legalisation of video gambling, together expected to raise $185 million in new tax revenues.

The application of sales tax to candy, uncarbonated beverages like sweet tea and beauty aids will generate at least a further $110 million, whilst higher taxation on beer, wine and liquor will add $113 million, and an increase in vehicle fees another $332 million. Improving tax collection activities should raise between $110 and $150 million.

Source: InfoPowa News