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Thompson outlines oil company receipts tax to fund transit
Gov James R Thompson proposes a 5 percent oil company receipts tax on refiners and major distributors in Illinois assessed at first sale. He expects $400 million in year one and $623 million in the following year, with most funds earmarked for mass transit and road repair. The plan shifts billions to Chicago area transit and state roads while sparking legal and political pushback.
MENTIONED IN THIS ARTICLE
Springfield
James R. Thompson
Thompson
Illinois
Chicago
Cook County
Illinois Petroleum Council
John Kramer
Petroleum Council
New York
Connecticut
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