At the end of the year, Illinois’ unpaid bills reached 2014 highs.
Utah passed a 401(k)-style reform plan in 2011. The state’s pension funds had a 50 percent chance of becoming insolvent by 2028 prior to the state’s reform plan – but the reform dropped that chance to 10 percent.
Illinois’ economy is floundering, and conditions will get worse without decisive action.
An encouraging December helped pull the Land of Lincoln out of last place in the Midwest for 2014 jobs growth.
The Amazon tax is estimated to bring in more than $200 million in additional annual tax revenue to the state, an amount that is likely to grow. This provides a perfect opportunity to repeal Illinois’ death tax to offset the new revenue growth.