If an Illinois worker takes a pay cut during a recession, she knows the state isn’t going to take an even bigger chunk out of her paycheck. That’s because the state income tax rate stays the same. But if her home loses value, too, she could still see her property tax bill go up. Government...View Report
Every budget through 2023 will likely be unbalanced as well.
About two-thirds of state revenue comes from income and sales taxes.
Fiscal mismanagement by Illinois politicians has resulted in mounting deficits that are hurting the state’s economy, leading to ever-higher taxes, and driving people and their income out of the state.