July 6th, 2020
ITEF Comment Vol. XII Issue 5
It’s Time To Cut Illinois’s Electricity Taxes
While lawmakers argue over extending the nine-year electricity rate freeze, Illinois Taxpayer Education Foundation examines Illinois tax policy on consumers electricity bills and comes to a startling conslusion. Most Illinois electricity consumers are paying more than a 10% tax rate on their electricity, and in Chicago the total tax bill is 18%. The City of Chicago electricity tax rate alone is 13%. The state isn’t doing too bad either after collecting $20 million more from electricity taxes this year over the previous year. It’s past time to cut electricity taxes in Illinois.