The good news: today state Rep. David McSweeney, R-Barrington Hills, introduced a measure that opposes efforts to pass the next multibillion dollar tax hike in Illinois a progressive income tax.
The 67 percent tax hike on individuals and the 46 percent tax hike on corporations were supposed to pay down the states unpaid bills, but instead 80 cents out of every tax hike dollar went to fund state worker pensions in 2012.
PRESS RELEASE from the ILLINOIS POLICY INSTITUTE MEDIA CONTACT: Diana Rickert diana@IllinoisPolicy.org or (312) 607-4977 Illinois Policy Institute applauds House Resolution opposing graduated income tax Implementing a “graduated” or “progressive” tax structure in Illinois would mean tax hikes for middle class Illinoisans SPRINGFIELD (April 15, 2013) Across the state, tax hike advocates are laying...
If there was any confusion over whether the income tax burden is progressive or regressive in the United States, a recent report by the Tax Foundation, Putting a Face on Americans Tax Returns, clears things up.
Counties across Illinois reject school facility sales tax hikes.
Lawmakers have not earned the right to borrow billions more. They were unable to pay down the states massive backlog of bills with a $7 billion tax hike how does anyone think theyll be able to do it with $2.5 billion in borrowing?
For governments like the ones in Stockton and Illinois, government worker pension plans need ambitious investment returns of nearly 8 percent year in and year out to fund the overly generous benefits officials have handed out
The price of Illinois bad behavior continues to go up.
Illinois Policy Institute CEO John Tillman joined Tom Miller on WJPF Radio to discuss pension reform in Illinois.
Too bad Puerto Rico isnt a state. If it were, Puerto Rico, and not Illinois, would have the nations worst-funded pension system and the countrys worst credit rating.
The Illinois Education Association, or IEA, is training its members to advocate for a plan that, ironically, increases taxes on teachers.
To tax-hungry politicians, the Internet is like California in 1849 a vast expanse of untapped wealth.
With nearly 300,000 residents, Stockton is the largest city in the United States to declare bankruptcy. It is also one of several California cities to file for bankruptcy due to the recession and skyrocketing government worker pension costs.
The Chicago Tribune published the following letter to the editor from the Institute's senior budget and tax analyst, Ben VanMetre.