Research Reports

Illinois lawmakers have officially adopted a budget for fiscal year 2019. The 1,245-page bill was made public less than five hours before state senators cast their votes and exceeds realistic revenue projections by as much as $1.5 billion. While closer to balanced than many Illinois budgets, the spending plan fails to enact meaningful reforms to…

It is time to give taxpayers and businesses the certainty they need to plan a long-term future in the state.

With one proposal to pay off Illinois’ pension debt asking the typical homeowner to pay more than $1,900 in additional property taxes for the next 30 years, the stakes for pension reform have never been clearer.

Inaccuracy and unfairness in the property tax assessment process mean some homeowners, especially those in poorer areas, pay a disproportionate share of the overall tax burden.

States with a progressive income tax see greater income inequality, and have seen income inequality rise faster than states without a progressive income tax.

If Illinois adopted Virginia’s spending habits along with policies that can reduce costs and raise home values, the Prairie State could vastly reduce the property tax burden that Illinois homeowners currently face.

If an Illinois worker takes a pay cut during a recession, she knows the state isn’t going to take an even bigger chunk out of her paycheck. That’s because the state income tax rate stays the same. But if her home loses value, too, she could still see her property tax bill go up. Government…

Even after a 32 percent income tax hike, the Illinois General Assembly passed a state budget in 2017 that will generate an estimated $1.5 billion deficit in fiscal year 2018. That deficit is projected to grow to $2.15 billion in fiscal year 2019, according to the Governor’s Office of Management and Budget, or GOMB. The…

Spending has consistently outpaced state tax revenues in Illinois for more than a decade. To avoid future tax hikes, Illinois must impose real fiscal discipline on state lawmakers.