Without reforms that level the playing field between the public and private sectors, the cost of Illinois’ public sector workers will continue to damage the state’s labor market, economy and taxpayers.View Report
The elections scheduled for November 2020 are already injecting uncertainty into the economy, and the progressive income tax ballot question will make matters worse.
Youthful wealth, energy and talent that could help Illinois recover is leaving the state at the nation’s second-highest rate. State leaders’ thirst for new taxes will make the problem worse.
Recent polling shows many Illinoisans would not trust state lawmakers with expanded taxing authority under a progressive income tax system.
The Illinois General Assembly and governor devised 21 different ways to take more money from taxpayers to finance spending on government operations and infrastructure.
Band-Aid fixes and spending-heavy compromises were rampant. And now it’s all coming home to roost.
Contrary to claims from both Republicans and Democrats, and despite raising nearly $1.1 billion in new taxes and fees for operations, the fiscal year 2020 budget is out of balance by between $574 million and $1.3 billion.
The numerous tax and fee hikes in Gov. J.B. Pritzker’s capital spending more than offset the promised savings of the governor’s “fair tax” plan.
Springfield politicians talking out of both sides of their mouths on tax “fairness” is one of many reasons they didn’t deserve a raise.
An amendment that would allow lawmakers to scrap Illinois’ constitutionally protected flat income tax and replace it with graduated tax rates will appear as a referendum question on voters’ 2020 ballots.
Caving to pressure from the governor would risk the well-being of Illinois.