Earlier this month, Caterpillar Inc. announced an additional 300 employees will be laid off at the Decatur plant. The latest layoffs would take effect in July. The announcement comes a month after the manufacturer said 460 workers would lose their jobs effective in June. Unemployment in the Decatur metro area is 11.8 percent. Illinois has the...
by Brian Costin Property tax bills are hitting mailboxes this week for residents across the state. The average homeowner in Illinois has an effective property tax rate of 1.93 percent; this is the second-highest property tax rate in the country. Homeowners in Lake County pay a median effective property tax rate of 2.46 percent, which ranks...
by Paul Kersey The Internal Revenue Service has acknowledged that some of its agents targeted conservative and small government groups for unjustified scrutiny when they applied for tax-exempt status prior to the 2012 election: IRS agents singled out dozens of organizations for additional reviews because they included the words “tea party” or “patriot” in their exemption applications,...
HB 3411 known as Cross-Nekritz – the latest iteration of Nekritz-Biss – paints over Illinois’ pension crisis with more of the same broken policies that have pushed government retirement systems to the edge of collapse. This bill: Perpetuates unstable, unpredictable and unmanageable defined benefit systems – The key driver of Illinois’ pension crisis is the state’s defined...
This week in Springfield, the focus shifted from pension reform to policy issues certain members of the Illinois General Assembly deem important, such as the Lion Meat Act. The Illinois Policy Institute had a big victory this week, as our workforce transparency measure passed the Illinois House and Senate and now heads to Gov. Pat Quinn...
Some individuals would have you believe that Illinois has a “revenue problem” – that the state needs to increase taxes again because it doesn’t have enough money in its coffers. But don’t be fooled; Illinois’ revenue is at an all-time high. The Illinois comptroller reported that Illinois’ fiscal year 2012 revenue was $68.6 billion. Even...
Both chambers were in session this week in Springfield. Moratorium on virtual schools passes out of committee On Tuesday afternoon, House Bill 494 passed out of the Senate Subcommittee on Charter Schools and was subsequently approved by the full Senate Education Committee. The Illinois Policy Institute’s Executive Vice President Kristina Rasmussen and Director of Education Reform Josh Dwyer attended both...
by Paul Kersey In Tuesday’s Chicago Reader Ben Joravsky essentially snarks that there must be something wrong with Chicago Mayor Rahm Emanuel, because the University of Chicago Laboratory Schools where the mayor sends his children manages to work just fine with the American Federation of Teachers, or AFT, Local 2063. Emanuel, on the other hand, remains...
by Ted Dabrowski Illinois has the nation’s second-worst unemployment rate. At 9.5 percent, it’s two percentage points higher than the national average of 7.5 percent. That gap translates into lost opportunities and struggle for the many Illinoisans who wish to be gainfully employed. Nearly 130,000 more Illinoisans could be working today if Illinois employed people at the...
by Paul Kersey In Illinois and many other states, government workers are often forced to pay union dues in order to hold on to their jobs. But a lawsuit filed on behalf of teachers in California may bring this practice to an end. Union officials use forced dues to fund massive political and lobbying drives...
Ben VanMetre Senior Budget and Tax Policy Analyst Proponents of higher taxes often argue that tax increases don’t influence how individuals behave. But recent revenue numbers in Illinois show that’s simply not the case. According to the Associated Press, Illinois’ income tax revenue for 2013 will exceed previous forecasts by $1.3 billion. But revenue isn’t higher...
by Ted Dabrowski Illinois politicians can’t hide from their decade-long policy failures. Jobs are scarce, as evidenced by the state’s 9.5 percent unemployment rate. That’s second worst in the nation, according to the Bureau of Labor Statistics. The state’s finances are in shambles and Illinois now pays the highest penalty rate for borrowing when compared to other states....
by Brian Costin The city of Chicago is currently considering bids to select a private management company for the operation of Midway Airport for the next 40 years. The proceeds of the deal will be primarily used to pay off Midway’s $1.4 billion in outstanding debt and additional capital needs. As an advocate for limited...
by Ben VanMetre Illinois is notorious for not paying its bills on time. Thousands of businesses, contractors and nonprofits choose to do business with the state of Illinois each year, providing everything from charity work to medical services to office supplies. These organizations are the state’s vendors. The problem is Illinois doesn’t pay these vendors...