Due to its poor financial health and lagging economy, Illinois carries unique economic and fiscal risks from a prolonged market downturn or recession. The state must act now to mitigate harm from COVID-19.View Report
Income taxes rose 32% for individuals and 33% for corporations in 2017, raising Illinois’ total tax burden to at least sixth highest from 10th highest. More than $1.2 billion went to pensions and debt.
The change puts Illinois in line with the new federal deadline announced in response to the spread of the coronavirus.
Property taxes in Illinois are nearly double the national average. Until state lawmakers trim down thousands of local governments and pursue pension reform, those bills wills remain high.
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?
Home price appreciation in Illinois was the slowest in the U.S. between the third quarter of 2018 and the third quarter of 2019, federal data showed.
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.
The numerous tax and fee hikes in Gov. J.B. Pritzker’s capital spending plan more than offset the promised savings of the governor’s “fair tax” plan.
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.
The largest permanent income tax hike in Illinois history was followed by a slide to 34th least-free state in the union, behind nearly every neighboring state.
Sources have identified state Sen. Terry Link as the FBI’s witness in their investigation into former state Rep. Luis Arroyo. Tax troubles may have led to Link’s cooperation.