Over the recession era, Indiana’s workforce grew by 53,000 people while Illinois’ workforce shrank by 200,000 people. If Illinois’ workforce size were benchmarked to Indiana’s over the recession era, Illinois’ unemployment rate would be 10.3 percent today.
Tax revenues in Illinois are up 22.5 percent over pre-recession highs, while 30 other states are collecting less tax revenue today than they were before the recession began.
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.