Despite Illinois’ severe financial problems, less than 3 percent of bills passed by the 99th General Assembly and enacted into law have fiscal notes.
At a time when businesses are fleeing the state, a group of Chicago aldermen are attempting to revive the employer’s expense tax to bail out Chicago Public Schools.
Despite Illinois’ severe financial problems, less than 3 percent of bills passed by the 99th General Assembly and enacted into law have fiscal notes.
In a bipartisan effort to cut McHenry County’s local tax burden, the McHenry County Board voted overwhelmingly in favor of a pledge to cut the county tax levy by 10 percent. The board chairman has intimated he will pursue further local government consolidation efforts.
High-income earners provide the majority of Illinois’ income tax revenue, and IRS data show that Illinois is losing these taxpayers to out-migration.
Illinois hasn’t had a budget in two years. And it’s been more than 15 years since the state had a balanced budget. But lawmakers – who are currently on a two-week spring break – continue to be paid.
While Chicago-area taxpayers struggle under a heavy tax burden, lawmakers – who continue to ignore reforms the state desperately needs – are now on a two-week vacation.
About two-thirds of state revenue comes from income and sales taxes.
Chicagoans have been burdened with a slew of new taxes and the full damage has yet to be felt. A state income tax hike, like the one proposed in the Illinois Senate’s so-called “grand bargain,” would only further harm struggling Chicagoans.
Senate Bill 9 would apply a 6.25 percent sales tax to laundry, dry cleaning, storage units and parking garages, among other services.
Local state Reps. Katie Stuart, D-Edwardsville, and Daniel Beiser, D-Alton, are still getting paid even though the state still does not have a balanced budget.
Illinois politicians are once again eyeing a “temporary” tax increase, and residents should be wary. History shows Illinois politicians favor tax hikes over spending reform, and the Tollway and 2011 income tax battle offer examples of the dangers taxpayers face when politicians toy with a temporary tax hike.
The latest report from the Commission on Government Forecasting and Accountability shows Illinois experienced falling tax collections, indicating trouble in the state economy. Spending reforms – not tax hikes – are what Illinois needs to right its fiscal ship and boost economic growth.
Though the median household income in Belleville is only $43,318, Belleville Township School District 201’s top administrators are making six-figure salaries.