Illinois’ pension crisis has been a growing problem for decades, and its negative effects on state residents are well documented.1 Economic fallout from the COVID-19 pandemic and related government shutdown orders threaten to bring that long-running crisis closer to its breaking point. The state’s five pension systems collectively held nearly $139 billion of debt at...View Report
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.
Only Mississippi has fared worse than Illinois in personal income growth since the Great Recession hit at the end of 2007. Analysis shows state income taxes matter.
In a party-line vote that even fellow lawmakers were unaware of, Illinois House Democrats passed out of committee a progressive income tax rate structure that would take effect should Gov. J.B. Pritzker succeed in scrapping Illinois’ constitutional flat income tax protection.
An Illinois-based energy company will halt construction on a planned $500 million plant, a casualty of the Land of Lincoln’s hostile business environment.
The uncomfortable truth is that no matter how many hands they shake, most General Assembly members aren’t really friendly to small businesses.