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Thursday, October 11, 2007

Chicago Mayor Calls for Hike in Beer, Wine and Liquor Taxes

Chicago residents and visitors will likely be paying more to enjoy a drink under the budget proposal submitted this week by Mayor Richard M. Daley. In a move that is becoming all too common across the country, another governmental body has decided to try to shake a few more coins out of your pocket when you decide to relax with an adult beverage.

Chicago's budget is huge: $5.4 billion. Mayor Daley projects a $196 million shortfall, so he is offering up a series of taxes and fees that total nearly $300 million. Increases in property taxes and fees for vehicle parking permits will hurt the most. The tax increase on beer would equal an 85 percent jump, adding 8 cents to a six pack. The tax on wine and liquor would jump by 50 percent, with a bottle of wine going up 7 cents and a bottle of spirits increasing by 24 cents. These taxes are on top of federal and state taxes charged on alcohol.

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