Illinois’ 32% income tax hike shows need for taxpayer bill of rights

By Mindy Ruckman

07/22/2017

Illinois taxpayers deserve to have a voice in budgeting decisions as politicians continually look to hike their taxes.

TAGS: budget, income tax, TABOR: Taxpayer Bill of Rights

Fitch keeps Illinois’ credit above junk but negative outlook remains

By John Klingner, Evelyn Hussey

07/20/2017

Of the three major ratings agencies, only Moody’s Investors Service has indicated that Illinois lawmakers’ lack of long-term solutions for reducing that debt is a severe problem.

TAGS: bonds, budget, credit rating, debt, Fitch Ratings, Moody's Investor Service, Standard & Poor's

Illinois comptroller’s plan to pay off state’s bill backlog includes borrowing more money

By Marianna Schmiesing

07/18/2017

Even with 32 percent tax hike, Illinois State Comptroller expects only $5 billion of the state’s unpaid bills to be paid down.

TAGS: budget, Susana Mendoza, unpaid bills

Illinois budget ends tax break early, cost of gas to go up

By John Klingner

07/14/2017

As part of the just-enacted state budget, the General Assembly has moved up the expiration of a tax break for sales of gasoline mixed with ethanol. This will likely make the price at the pump go up.

TAGS: budget, ethanol, gas tax

Understanding why the new budget fails Illinoisans

By Ted Dabrowski, John Klingner

07/13/2017

Tax hikes on struggling Illinoisans as the state is bordering on a recession, a lack of structural spending reforms, no true pension reform, $100 million in pork spending, and the continued threat of a junk credit rating are among the ways the new Illinois budget fails taxpayers.

TAGS: budget, credit rating, debt, income tax, pensions, taxes

After historic tax hike, the real pain has just begun

By Austin Berg

07/13/2017

The state will eat a 32 percent larger chunk out of most workers’ paychecks, retroactive to July 1.

TAGS: budget, COGFA, income tax, taxes

Illinois income tax increase now in effect

By John Kristof

07/12/2017

The Illinois Department of Revenue issued details on how to comply with the state’s increase income tax, signaling the reality of higher taxes for Illinoisans.

TAGS: budget, Illinois Department of Revenue, income tax, taxes

New study ranks Illinois 2nd-worst in fiscal health

By Marianna Schmiesing

07/12/2017

New findings from the Mercatus Center highlight how Illinois’ reliance on debt and costly pension and other employment benefits have put the state on the wrong fiscal track.

TAGS: budget, pensions

State of Illinois loses $4 million in lottery revenue due to budget crisis

By John Kristof

07/10/2017

That total comes from $2.4 million lost due to the absence of Powerball ticket sales and $1.4 million lost due to the absence of Mega Millions ticket sales.

TAGS: budget, illinois lottery, lottery

Illinois lawmakers pass permanent income tax hike, override Rauner’s veto

By Austin Berg

07/06/2017

The Illinois House of Representatives has completed an override of Gov. Bruce Rauner’s veto of a budget plan, including multibillion-dollar tax increases.

TAGS: Bruce Rauner, budget, Illinois General Assembly, Mike Madigan, taxes

Illinois’ $21 billion in school debt pushes up property taxes

Illinoisans are struggling under the highest property tax burdens in the country. Many of the reasons for those high taxes are known – too many local governments, executive pay for local administrators and rising pension costs. What taxpayers don’t know is that local school districts have billions in debt, which drives up property taxes even further....

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Illinois’ $21 billion in school debt pushes up property taxes

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Forgotten Illinois: Round Lake

Policy lessons from Illinois’ exodus of people and money

CBS Chicago: Illinois’ highest-paid superintendent receives $400K per year to oversee 1,200 students