Evidence from Connecticut suggests the progressive income tax could cost Illinois homeowners substantial equity in their homes.View Report
Unemployment claims bumped up for a second week in Illinois as Gov. J.B. Pritzker decided to push for 9 new taxes, mostly hitting businesses and job creation. Illinois ranked 49th for recovery last week.
The budget proposal includes no reforms to pensions or other cost drivers, misleadingly labels various business tax increases as ‘closing corporate tax loopholes,’ and relies on gimmicks that conceal true deficits. And there’s a new gas tax.
The industry had been one of the bright spots in the Illinois economy but COVID-19 and state-mandated mitigation efforts have decimated it.
Delivered virtually Feb. 17, 2021, from the Illinois State Fairgrounds
Illinois needed federal aid far more than other states because of pension crisis inaction, as well as an irresponsible pandemic budget. Bailouts won’t protect taxpayers or services for vulnerable Illinoisans, but reforms can.
Illinois’ weak economic foundations and fiscal mismanagement were preexisting conditions that caused it to suffer a deeper COVID-19 downturn. They will also hurt its recovery.
Illinois lost 423,300 jobs from December 2019 through December 2020.
Chicago Mayor Lori Lightfoot said she wants Gov. J.B. Pritzker to give city residents more freedom to drink and dine out. Two other Illinois regions were just granted more liberty to do so.
Over the objections of Chicago Mayor Lori Lightfoot, who called the legislation “irresponsible,” state lawmakers passed a bill to increase the cost-of-living adjustment for 2,200 Chicago firefighter pensions to 3% from 1.5%. Gov. J.B. Pritzker should veto it.
Illinois Gov. J.B. Pritzker could delay the $313 million in raises state workers have yet to receive, but instead he’s considering taking $75 million from their paychecks and leaving taxpayers without their services.