The status quo isn’t working for Illinois; the state needs serious reforms to get its spending under control, pay down its debt, and rein in the taxes that are driving its people across state lines.
The Illinois Senate’s proposed budget plan would raise the personal income tax rate to at least 4.95 percent with no real reforms to address the state’s skyrocketing debt and unsustainable spending. This proposal comes despite Illinois’ loss of $14 billion in annual income and hundreds of thousands of people in the wake of the 2011 income tax hike.
The Education Freedom Tax Credit, also known as the Federal Scholarship Tax Credit, will give Illinois students access to donor money if the state opts into the program.