income tax

3 prevailing budget truths for Illinois

By Ted Dabrowski
07/02/2015
illinois house speaker mike madigan
Three facts prove that sensible spending coupled with pro-growth reforms is the solution to the current crisis. 1. Illinois has a spending problem. Not a revenue problem. If Illinois spending had grown at the same rate as inflation and Illinois’ population, the state’s expenditures would have been $8 billion less than they were in 2014. Extending...

TAGS: income tax, outmigration

By 2029, Illinois will spend more on pensions than education

By Benjamin VanMetre
09/02/2014
Hardworking Illinois families and entrepreneurs are just four months away from tax relief. The state’s personal income tax rate is slated to drop to 3.75 percent from 5 percent in January 2015. But a number of lawmakers and special-interest groups don’t want to let that happen. Tax-hike advocates across the state argue that Illinois needs...

TAGS: budget, Chicago, income tax, pensions