How Trump’s tax proposals would affect Illinois

By Michael Lucci
The corporate tax reforms under President Donald Trump’s proposed tax plan could strengthen Illinois’ position as a home for businesses, but the state’s uncompetitive income, property and death tax policies would put its residents at an even greater disadvantage with respect to other states if the president’s plan passes.

TAGS: Chicago, corporate income tax, death tax, Donald Trump, estate tax, income tax, outmigration, population, property taxes, tax credits, taxes

Illinois politicians’ remedy for state flirting with recession? Multibillion-dollar tax hikes

By Ted Dabrowski, Craig Lesner
A new report from the Commission on Government Forecasting and Accountability shows Illinois has experienced falling tax collections, which may indicate trouble in the state economy; spending reforms – not tax hikes – are what Illinois needs to right its fiscal ship and boost economic growth.

TAGS: AFSCME: American Federation of State County and Municipal Employees, Christine Radogno, corporate income tax, income tax, John Cullerton, Medicaid, pensions, property taxes, sales tax, taxes

Illinois has fourth-largest portion of tax revenues coming from corporate income taxes in the nation

By Benjamin VanMetre
Illinois’ corporate income tax rate is already the fourth-highest in the industrialized world. Yet some lawmakers want to push rates even higher. State Rep. Naomi Jakobsson, D-Champaign, wants swap out Illinois’ constitutionally protected flat rate income tax on corporations with a progressive income tax hike. And that would be on top of the fact that...

TAGS: corporate income tax, fair tax, flat tax, graduated income tax, naomi jakobsson, progressive income tax