Chicago Mayor Lori Lightfoot wants state lawmakers to let her impose progressively higher real estate transfer tax rates to close a $838 million budget deficit. She faces a limited time window and resistance from state lawmakers.
Kentucky’s economic developers are using billboards along Interstate 57 to bring businesses south by highlighting Illinois’ poor finances, high taxes and unwelcoming business climate.
A year ago, over half of Illinoisans considered moving away, but today it’s more than 6 in 10, a new poll shows. The No. 1 reason cited for wanting to move? High taxes.
Youthful wealth, energy and talent that could help Illinois recover is leaving the state at the nation’s second-highest rate. State leaders’ thirst for new taxes will make the problem worse.
One Illinois county in the greater St. Louis area is losing so many residents it ranks No. 5 nationwide for population loss. Its neighboring county was one of the few in Illinois to grow.
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.