Sep 27, 2007 7:27 am US/Central
Cook County Says Need For New Revenue Is 'Dire'
Sales Tax Hike To Be Discussed
CHICAGO (CBS) ―
The Cook County Board says the budget is in "dire need" of new revenue.
Board President Todd Stroger's offices released figures indicating the total budget deficit is $307 million. This breaks down to $150 million in reduced revenue and $157 million in increased expenses.
A total of 48 percent of those expenses are employee-related costs.
Stroger has not yet presented his 2008 budget proposal, but the County Board is already set to debate a proposal to raise the sales tax to account for some of the shortfall.
The increase would push sales tax in the City of Chicago to 11 percent, the highest in the country.
In 2004, then-County Board President John Stroger proposed an increase in the county sales tax of 0.25 percent, as well as a tax on all items leased in the county, to balance the budget. But the board rejected the proposals.
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