The 2011 tax hikes cost the state economy $55.8 billion in real GDP from 2012-2016.View Report
Cities and villages across the state are raising taxes or implementing new ones for a variety of functions, from attracting a fast-food restaurant to catching up on rising pension costs.
Lucrative compensation for government workers stands in stark contrast to the city’s budgetary struggles and a flagging local economy.
While major headlines broke over news that Chicago was the only one of America’s largest 20 cities to shrink from July 2015 to July 2016, most of Illinois’ other cities with 50,000 people or more also lost population.
The industry giant’s move comes amid continued disinvestment in Illinois manufacturing.
With Peoria and downstate reeling, the Caterpillar move comes at a time of persistent disinvestment in Illinois manufacturing.