The Illinois Federation of Teachers in 2021 spent 190 times more on Chicago-area teachers than it did on teachers south of Interstate 80. That could be why IFT membership has shrunk nearly 18% since 2017.View Report
Hedge-fund firm Citadel is moving its headquarters to Miami. Citadel CEO Ken Griffin said many employees have asked to move out of Illinois.
Combine the corporate tax rate President Joe Biden wants to fund his infrastructure plan with Illinois’ tax, and the resulting rate would be 35.4% – fifth highest in the nation and second in the Midwest.
Federal tax relief was championed so small businesses could better deal with COVID-19 economic impacts. Gov. J.B. Pritzker wants to undo that relief to keep $1 billion in state taxes from Illinois small businesses.
A new ranking puts Illinois’ corporate tax rates near the top. Still, Gov. J.B. Pritzker wants to extract $900 million more from corporations after failing to stop up to $1 billion in COVID-19 tax credits for small businesses.
Illinois Gov. J.B. Pritzker calls it the “fair tax.” Opponents say it’s a “blank check” for irresponsible spending. Here’s what you need to know.
Illinois Gov. J.B. Pritzker’s ‘fair tax’ would raise Illinois business taxes to the highest in the nation as neighboring Indiana cuts taxes to draw businesses across the border.
State lawmakers in 2019 passed a progressive income tax amendment at the behest of Gov. J.B. Pritzker. Now that coronavirus has ravaged the state’s small business community, they should withdraw the amendment.
The change puts Illinois in line with the new federal deadline announced in response to the spread of the coronavirus.
Fewer people want to live in states with progressive income taxes. So after 6 straight years of population loss, why would Illinois want to join them?
Illinois’ uneven recovery reflects national trends, but also raises important questions about the state’s economic future ahead of a key tax hike vote.