By Orphe Divounguy, Austin Berg, Bryce Hill, Joe Tabor
01/22/2018
Illinois' jobs growth trailed that of the nation during the first half of 2017, then slowed to a halt in the wake of the General Assembly's record-breaking tax hike.
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.
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.
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.
Chicago’s $1.15 billion projected budget gap is the latest in a decades-long string of structural deficits. Making Chicago’s high taxes worse is not the solution.