Cook County a model for austerity

Cook County a model for austerity

This remains a challenging economic time for businesses, consumers and government. Cook County is no different, but some signs are encouraging.

Cook County Board President Toni Preckwinkle recently unveiled her preliminary budget for next year. Her plan reduces spending by nearly $25 million, and it includes a 5 percent cut in nonpersonnel spending. Those are significant steps to doing more with less — something business needs to see more from government.

We are very pleased to see President Preckwinkle follow through on her promise to lower the county’s high sales tax rate by 0.25 percent. This is great news for retailers and consumers who feel the brunt of that tax every day. The rollback will also provide stability and lead to job creation in the Chicago area.

The county faces some significant challenges with a projected shortfall in revenue for next year. There’s more work to do and tough choices ahead, but this preliminary budget continues to take the steps necessary for long-term austerity and responsible spending. This plan from President Preckwinkle is an impressive first step and shows the leadership we need to get our economy back on track and put people to work.

David Vite

President/CEO

Illinois Retail Merchants Association