Illinois Policy gives guidance on what the state can do to recover from COVID-19

“We need to deal with the consequences on the other end of this,”Adam Schuster said

The Annie Frey Show
March 25, 2020 - 2:36 pm

(KFTK) – Adam Schuster from Illinois Policy said delaying unnecessary payments as much as possible and extending the tax filing deadline would help the state get ahead of the curve. 

“We need to deal with the consequences on the other end of this,” he said on what happens to the state’s economy once the coronavirus passes.

Schuster said the ideal situation would be to shut down the economy, try to diminish the virus and then open the economy back up and bounce back.

Of course, it is never that simple.

Here are a few ways Illinois Policy has outlined to help with the economy of the state and the workers:

  • Order a delay in the collection of all business property taxes until at least Oct 1. The state could make use of emergency borrowing authority in the state constitution to cover the revenue loss to locals, repaying the bonds within one year when the taxes are collected.
  • Expand Chicago’s fine and penalty relief policy statewide and broaden its scope. The state should stop all collections activity and penalty growth for existing tickets, while also ending booting, impounding, and the issuance of new tickets unless related to public safety. Additionally, the state should suspend the red-light camera program and a non-safety ticket forgiveness program for below-median income households who were affected by the COVID-19 crisis.
  • Match the federal government in delaying the income tax filing deadline to July 15. Illinois should follow other states like AZ, NY, PA, and WI to extend their income tax filing deadlines.

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