"July 1st: Illinois Faces New Taxes and Laws"

Starting July 1, several new laws will take effect in Illinois and Chicago, impacting residents' wallets. In Chicago, the minimum wage will increase to $15.80 for employers with 21 or more employees, and to $15 for employers with four to 20 employees. Tipped employees will also see an increase in their minimum wage. Cook County suburbs will see similar increases. The Fair Workweek Ordinance will introduce updated compensation metrics for certain industries. The suspension of Illinois' 1% grocery tax will end, and the gas tax will increase due to inflation. Changes to school holidays include exemptions for teachers on Saturdays and recognition of commemorative holidays.