Banks Snub Chicago Aldermen On Equitable Mortgage Lending

Link: https://www.wbez.org/stories/banks-snub-chicago-aldermen-on-equitable-mortgage-lending/f470444a-42e1-478c-997e-db8dfe52229f

Excerpt:

Home ownership rates in Chicago’s Black and Latino communities have been falling, according to information presented by Anthony Simpkins, president and CEO of Neighborhood Housing Services of Chicago.

Citing research by the DePaul Institute for Housing, Simpkins said not only are banks lending less in Black and Latino neighborhoods, they are also filing more foreclosures.

And he said borrowers of color who are able to get a loan are often charged a higher interest rate; in 2019 he said Woodstock Institute found nearly 35% of African American mortgage borrowers in Chicago paid higher rates, 17% of Latino borrowers.

Author(s): Linda Lutton

Publication Date: 27 February 2021

Publication Site: WBEZ

Illinois Gov. JB Pritzker’s Budget Plan Won’t Push For An Income Tax Hike For Next Year

Link: https://www.wbez.org/stories/illinois-gov-pritzkers-budget-plan-holds-the-line-on-income-taxes-for-next-year/fd2e0e14-bf3d-49c0-a4e8-5d9de7395b34

Excerpt:

Illinois Gov. JB Pritzker’s 2022 state budget proposal won’t include an income tax hike, but it will seek the elimination of $900 million in business tax credits and aims to hold spending at current levels, the governor’s office said Tuesday.

The Democratic governor will present his budget outline on Feb. 17. It’s Pritzker’s first spending plan since the November defeat of his constitutional amendment to impose a graduated income tax.

The outline he will present to lawmakers for the state fiscal year that begins July 1 includes a $3 billion deficit – less than the $5.5 billion originally forecast.

Author(s): Dave McKinney, Tony Arnold

Publication Date: 9 February 2021

Publication Site: WBEZ