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...View Report
A proposal to tie state spending to what taxpayers can afford is earning bipartisan support in Springfield.
Mandating more reasonable spending growth is the first step in a journey back to solvency for Illinois. The cap provides certainty today for a more responsible state government tomorrow.
The Taxpayer Fiscal Charter Act would demand funding transparency before spending bills make their way out of Springfield.
After a punishing 2017, Illinoisans are in dire need of reform from Springfield.
Every budget through 2023 will likely be unbalanced as well.
Illinois’ budgetary mess preceded Gov. Bruce Rauner’s tenure, with years of gimmicks, borrowing and broken promises.
Illinois House Bill 3868 would give Gov. Bruce Rauner the authority to trim costs and reorder the state’s spending priorities to balance the budget.
Due to fiscal crises, both state and local governments are asking more and more from the same taxpayers – encouraging many of them to leave instead.
The status quo isn’t working for Illinois; the state needs serious reforms to get its spending under control, pay down its debt, and rein in the taxes that are driving its people across state lines.
Pension costs alone now consume a quarter of the Illinois state budget.