Not only would a progressive income tax hike end up taking more money directly from all taxpayers’ pockets, but it would also have negative economic effects on jobs growth, after-tax income adjusted for cost of living, and overall economic output.View Report
Illinois borrows money to reduce pension obligations, with more borrowing planned. Claims $400 million in current budget savings, but admits to investors it cannot calculate any savings.
Democrats in the Illinois House are leading the push for a constitutional amendment that would require the state to balance its budget – a feat state lawmakers haven’t achieved since 2001.
A report from one of the largest credit rating agencies criticized Gov. J.B. Pritzker’s “dubious” budget proposal for avoiding necessary fiscal reforms.
Getting behind bipartisan budget reform is the kind of bravery Illinoisans deserve from the executive branch. Instead, they’re getting more of the same.
A spending cap proposal filed by state Sen. Tom Cullerton, D-Villa Park, would ensure growth in government spending doesn’t exceed taxpayers’ ability to pay for it.
A pension plan pushed by one Illinois think tank fails to reform the state’s broken pension system and risks repeating costly mistakes. Gov.-elect J.B. Pritzker shouldn’t be fooled and should instead endorse meaningful, lasting reform.
According to a new report by Moody’s Investors Service, Illinois’ unfunded pension liabilities equaled 601 percent of state revenues in 2017, a U.S. record.
While the name of the home stadium for the Chicago White Sox has changed over the years, its status as a tax burden has not.
History shows lawmakers prefer to avoid tough but necessary choices.
Spending has consistently outpaced state tax revenues in Illinois for more than a decade. To avoid future tax hikes, Illinois must impose real fiscal discipline on state lawmakers.