While J.B. Pritzker has not released a detailed tax plan of his own, reasonable cost estimates suggest the tax hike required to pay for the candidate’s spending promises would require doubling Illinois’ state income tax rate and cost the state an estimated 132,000 jobs and $31.3 billion in forgone GDP.View Report
A new university study ranks Illinois last of all 50 states for fiscal health. Pension reform and spending caps are essential for recovery.
Over half of survey respondents have considered leaving Illinois, citing dysfunctional government, disappointing job opportunities and – above all – high taxes.
Despite finding favor among some politicians and political candidates in Illinois, states with a progressive income tax are more vulnerable during recessions than flat-tax states.
Making Illinois a more attractive state in which to plant roots is entirely within lawmakers’ control.
Amid two record-breaking income tax hikes, growing property tax bills and population decline, the Land of Lincoln’s income growth is trailing the rest of the nation.
Taxpayers across Illinois oppose a progressive tax but many state lawmakers still refuse to stand up against House Speaker Mike Madigan’s progressive tax push.
A recent survey found Illinois to be the least accommodating state in the nation for small businesses.
Illinois experienced its sixth consecutive month of jobs growth in July, yet continues to trail the pace of growth in the rest of the nation for 2018.
Illinois added 18,100 new jobs in June, the highest monthly increase since summer 2017, but the Prairie State still lags behind the rest of the nation for the post-recession period.
At least 730 Cook County and 646 Chicago employees have been freed from paying forced union fees following the Janus v. AFSCME decision.