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
The Civic Federation’s criticism of Gov. Bruce Rauner’s proposed budget is a mixed bag, with its own proposals for Illinois’ financial crisis – including nearly $3 billion in tax hikes – missing the mark.
After passing an unbalanced budget in 2017, Decatur will have to address its declining population and revenue as it looks ahead to crafting future budgets.
The Mount Prospect village manager is set to receive a $214,000 salary in 2018, joining a long list of other Illinois municipal officials collecting similar and even larger paychecks.
With the 2018 budget set to spend at least $1.3 billion more than it takes in, members of the General Assembly have hoodwinked Illinoisans once again.
High-priced government workers cost taxpayers in Illinois $10 billion a year, with municipal managers in areas surrounding Chicago reaping the most benefits.
Bailout bills moving in the Illinois General Assembly would attempt to turn Illinois’ massive debt problems into guaranteed profits for banks and bondholders and a lower standard of living for other Illinoisans.
State and local tax hikes in Illinois have hurt economic growth, lowered the standard of living, and contributed to out-migration.
Despite Illinois’ billions in deficit spending and skyrocketing debt, the Illinois House of Representatives passed House Bill 278, which would transfer an additional $300 million per year of state income tax funds to local governments, continuing to prop up local overspending that fuels high property taxes.
Lawmakers on both sides of the aisle grow more and more powerful as the size of state and local government increases.
In 2015 alone, Illinois state government redistributed more than $12 billion in income and other taxes to local governments. These financial shell games have created a needlessly complex system and make it difficult for local taxpayers to hold their governments accountable.