Not only would a progressive income tax hike end up taking more money directly from all taxpayers’ pockets, but it would also have negative economic effects on jobs growth, after-tax income adjusted for cost of living, and overall economic output.View Report
Neither taxpayers nor lawmakers should believe Pritzker when he makes claims of tax cuts – specifically that 97 percent of Illinoisans would see one – as part of his effort to scrap Illinois’ constitutionally protected flat income tax.
A bill in the Illinois House would empower voters to reform the funding priorities of their local school districts.
For the second year in a row, a WalletHub study found Illinois’ high property tax burden is second only to New Jersey.
A report from one of the largest credit rating agencies criticized Gov. J.B. Pritzker’s “dubious” budget proposal for avoiding necessary fiscal reforms.
According to recent data, Illinois spends nearly double the national average on pensions, measured as a percentage of all state and local government spending.
Trying to fix a massive pension deficit with more tax increases, deferring payments and gambling with taxpayer money is a recipe for failure.
Declining home values and a shrinking tax base have created a bigger property tax burden for Harvey, Illinois, homeowners. For their higher taxes, residents get corruption, debt and fewer services.
Illinois’ 101st General Assembly can be leaders in pension reform by passing a constitutional amendment that allows for changes to future, unearned benefits.
Chicago had nearly 15,000 municipal employees paid at least six figures in 2017, up more than 1,000 from the previous year. That’s more than 40 percent of the city’s workforce.
There’s a lot of talk about renewed bipartisanship and a new day in Springfield. Dozens of state lawmakers have already opted out of the pension system. The General Assembly should take the lead and phase out their own defined-benefit system and get to work on a constitutional fix for the rest of Illinois’ pension mess.