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
Voters can expect to be bombarded by claims about the ‘fair tax’ until Nov. 3 – but what are the facts? Proponents have made misleading claims in hopes of convincing Illinoisans to do away with the flat tax.
Illinois Gov. J.B. Pritzker is pushing a progressive state income tax without delivering the numbers to prove his promises. The numbers available from other states make it clear a progressive tax will hurt Illinois’ economy.
Only one state has switched its income tax structure from flat to progressive in the past 30 years. Its disastrous results may explain why.
Despite Illinois’ governor’s claims, states with progressive income taxes face greater gaps between rich and poor.