If an Illinois worker takes a pay cut during a recession, she knows the state isn’t going to take an even bigger chunk out of her paycheck. That’s because the state income tax rate stays the same. But if her home loses value, too, she could still see her property tax bill go up. Government...View Report
As the federal government repeals regulations requiring broadband companies to obtain consumers’ consent before using their browsing history and other personal information to create targeted ads, Illinois state politicians are moving to ramp up privacy protections. However, whether these bills would actually further those privacy goals or whether they would merely bolster Illinois’ class-action lawsuit industry while burdening businesses are open questions.
Lang’s progressive-tax proposal would hit successful small businesses, which account for 72 percent of all small-business income in Illinois.
Under Lang’s plan, Illinois’ top tax rate for noncorporate businesses would become 11.25 percent — the second-highest rate in the U.S.