Massachusetts ‘millionaires tax’ cost the state $4 billion in departing income
Massachusetts ‘millionaires tax’ cost the state $4 billion in departing income
The vast majority of that loss came from high-income earners leaving the state.
IRS: Illinois led nation in rate of income loss in 2023
IRS: Illinois led nation in rate of income loss in 2023
The state lost a bigger share per resident moving out than anywhere else in the country, according to IRS data.
‘Millionaires tax’ would hike rate 61% on 22K Illinois small businesses
‘Millionaires tax’ would hike rate 61% on 22K Illinois small businesses
Combined state and federal taxes would take more than 50% of the top-end income for 22,000 Illinois small businesses.
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Highest-earning Illinoisans fleeing state at fastest rate
Highest-earning Illinoisans fleeing state at fastest rate
Residents of all age and income groups move out, but those making over $200,000 lead the departures.
IRS: Illinois lost $6 billion to outmigration in 2023
IRS: Illinois lost $6 billion to outmigration in 2023
A net of nearly 56,000 people and $6 billion in income left the state in 2023, according to IRS data.
Illinois income growth lags U.S. under Pritzker
Illinois income growth lags U.S. under Pritzker
State residents earn more than they did in 2019 but are falling behind the rest of the country while the tax burden drives out businesses.
4/20: How Illinois spends marijuana money
4/20: How Illinois spends marijuana money
The state’s cannabis taxes likely tempt residents to make purchases in neighboring Missouri, which has one of the lowest rates in the country.
Pritzker: ‘Affordability’
Pritzker: ‘Affordability’
Chicago Public Schools will stay open May 1
Chicago Public Schools will stay open May 1
School will be in session despite the Chicago Teachers Union’s relentless efforts to push students out of school and leverage labor for political gains.
Illinois biometric data law a threat to businesses
Illinois biometric data law a threat to businesses
Despite reforms, litigation continues over the country’s toughest such law.
Polls are clear: Voters want donated education money
Polls are clear: Voters want donated education money
A federal scholarship program is popular among voters in Illinois and nationwide. Gov. J.B. Pritzker should opt in so Illinois students aren’t left behind.
Illinois posted slow job growth last year
Illinois posted slow job growth last year
The state’s unemployment rate is near the top nationwide
March mass layoffs hit Cook County hardest
March mass layoffs hit Cook County hardest
Nearly 1,100 cuts were reported statewide in a range of industries.