New data shows Illinois since 2010 lost up to $32 billion in income from people moving out. Gov. J.B. Pritzker’s graduated income tax plan would hike rates on residents most likely to leave the state, on net.
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.