Cook County taxpayers will be spending less money at the cash register from now on. The county sales tax dropped to .75 percent on January 1, effectively repealing the one percent sales tax hike former County Board President Todd Stroger introduced during his tenure.
"I kept my promise to residents to eliminate the sales tax hike, the most significant pledge of my 2010 campaign," said current board president Toni Preckwinkle at press conference on Wednesday. "I have worked hard since taking office to ensure that families and businesses can trust county government again."
Preckwinkle appeared at Abt Electronics in Glenview on Wednesday, along with Michael Abt, the Chicagoland Chamber of Commerce and the Illinois Retail Merchants Association, to celebrate the sales tax repeal.
According to Preckwinkle, the repeal will save consumers in Cook County $440 million "over the life of the rollback."
The decline in tax revenue will now force Cook County to remain efficient and innovative in future budgets, she added.
"We made the choice to cut taxes on everyday items a majority of residents need," Preckwinkle said. "I don't think a one percent decrease is symbolic. It's significant."