Evidence from Connecticut suggests the progressive income tax could cost Illinois homeowners substantial equity in their homes.View Report
Jobs data is giving the illusion of economic recovery in Illinois. The reality is 107,530 workers gave up their job searches, and new COVID-19 lockdowns can only hurt more workers.
Illinois politicians do not have a great track record when it comes to keeping promises to taxpayers.
The progressive income tax amendment would carry a hidden cost of $1,800 a year in lost home value for 3.2 million homeowners if Illinois sees the same impact as Connecticut.
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 calls it the “fair tax.” Opponents say it’s a “blank check” for irresponsible spending. Here’s what you need to know.
Gov. J.B. Pritzker calls his $3.7 billion income tax hike a “fair tax.” But opponents have criticized the constitutional amendment as a blank check for House Speaker Mike Madigan and other state lawmakers, courtesy of Illinois taxpayers.
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?