While J.B. Pritzker has not released a detailed tax plan of his own, reasonable cost estimates suggest the tax hike required to pay for the candidate’s spending promises would require doubling Illinois’ state income tax rate and cost the state an estimated 132,000 jobs and $31.3 billion in forgone GDP.View Report
Michigan nixed a law mandating inflated wages for public construction projects. The Prairie State should follow suit.
Illinois state lawmakers could stimulate employment and lower costs for overburdened taxpayers by repealing the state’s outdated prevailing wage law.
The state is borrowing millions to finance capital construction projects and information technology improvements. But Illinoisans continue to pay for the worst credit rating of any state in the nation.
Compared with Illinois’ pre-recession average, permits for new single-family and multiunit housing are down more than 60 percent.
Illinois lost jobs across several industries including construction, manufacturing, and professional and business services. The only employment category to see significant growth was leisure and hospitality.
Insurance premiums cost 20 percent of payroll for concrete construction workers in Illinois.