The 2011 tax hikes cost the state economy $55.8 billion in real GDP from 2012-2016.View Report
With statewide elections in November, the 2018 forecast calls for gridlock.
Solving Illinois’ people problem requires addressing the high cost of government, which makes the state far less attractive for people looking to plant roots.
Illinois lawmakers passed hundreds of bills in 2017, but enacted no real reforms to boost the state’s economy, rein in the cost of government or provide relief to taxpayers.
After a punishing 2017, Illinoisans are in dire need of reform from Springfield.
The continuing erosion of Illinois’ tax base is the state’s most pressing budget problem.
Illinois would have seen above-average growth if the state’s workforce had simply grown on par with the rest of the U.S. economy. Instead, poor policy choices have made the state an economic laggard. Illinois’ slow expansion is likely a product of investment-killing tax hikes.
Thirty-three state representatives and senators will not be returning in the next General Assembly in 2019.
Illinois’ exodus of people and money is the state’s most pressing policy problem. Until lawmakers get serious about addressing its causes, there’s little reason to think the trend will change.
The uncomfortable truth is that no matter how many hands they shake, most General Assembly members aren’t really friendly to small businesses.
The biggest obstacle Illinoisans face in Springfield remains the same: an all-powerful House speaker, and members of both parties who are all too eager to kowtow.