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
Illinois borrows money to reduce pension obligations, with more borrowing planned. Claims $400 million in current budget savings, but admits to investors it cannot calculate any savings.
Despite already shouldering one of the nation’s highest total tax burdens, middle-class Illinoisans would be exposed to extra income taxes under language proposed by Gov. J.B. Pritzker.
Illinois’ high court ruled a former union employee who worked a single day in the classroom is eligible to receive a decade’s worth of teacher pension benefits.
Because the governor doesn’t address state and local governments’ ballooning pension costs, the typical Illinois family will continue to see their tax bills rise.
Without reform, Illinois’ pension problem will continue to force tax hikes while crowding out the core services residents need.
By reducing administrative bloat in Illinois school districts, the bill would enable property tax relief while ensuring education dollars reach students and classrooms first, rather than bureaucrats.
The Teachers’ Retirement System pension fund board opposed Illinois Gov. J.B. Pritzker’s plan to repeat past mistakes. Here’s why they are right to oppose it.
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.
Facing down a $3 billion deficit, Illinois Gov. J.B. Pritzker offered an unbalanced budget including more tax hikes, borrowing and spending. He claimed severe cuts were the only alternative, but another option exists.
A bill in the Illinois House would empower voters to reform the funding priorities of their local school districts.