Gov. J.B. Pritzker inherited a $2.8 billion budget deficit the moment he stepped into office. Next year, that deficit is projected to be $3.4 billion1. It’s the same story every budget season. But Illinois’ budget crises could be a thing of the past if the state would adopt pension reform, right-size its union contracts and...View Report
Pritzker’s first budget address exalted the graduated income tax as a solution to the state’s fiscal problems. Despite evidence to the contrary, the governor is urging state lawmakers to speedily advance the measure.
Gov. J.B. Pritzker has pointed admiringly to other Midwestern states’ progressive income tax structures, but taxes on the median Illinois family would go up under all of them.
State spending has grown nearly 50 percent faster than Illinoisans’ incomes during the past decade. State Sen. Tom Cullerton, D-Villa Park, has proposed a constitutional spending cap that offers a long-term solution to the state’s budgetary problems.
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.
An amendment to scrap Illinois’ constitutional flat tax protection is gaining sponsors in the Illinois Senate. Lawmakers have refused to discuss rates since those details killed the last progressive tax attempt.
Outbound movers cited lack of jobs as most common reason for leaving Illinois in 2018. Most of those who left earned at least $100,000.
In 2018, Springfield handed Illinoisans more of the same repackaged policy failures. Lawmakers in the coming year should tape to their desks this wish list of taxpayer-friendly reforms.
Other states’ experiences show progressive taxes creep beyond the rich and into the pockets of the middle class.
Overly optimistic expectations about investment returns mean Illinois is understating its pension debt. That could lead to a nasty surprise for future taxpayers.
Jobs growth in Illinois has gone from middle of the pack to back of the line.