With one proposal to pay off Illinois’ pension debt asking the typical homeowner to pay more than $1,900 in additional property taxes for the next 30 years, the stakes for pension reform have never been clearer.View Report
If current population trends hold, Rock Island, Illinois, will take a back seat to Bettendorf, Iowa, within five years.
State spending grew 25 percent faster than Illinoisans' personal income from 2005-2015.
Illinoisans saw more than 30 percent of their income go to income taxes and property taxes from March 2015 to March 2016 – a higher share than residents of every bordering state.
Illinois’ 32 percent income tax hike will steal nearly an entire year’s worth of income growth from Illinoisans.
Illinois is tied for the worst income growth in the entire U.S.
Illinois’ total state economic activity has increased by only 4 percent since 2007, which is lower than the U.S.’ 10 percent GDP growth during the worst decade of the Great Depression.
Lawmakers’ proposed new and higher taxes would only make things harder for struggling Illinoisans.
Despite Illinois’ built-in economic advantages, personal income in Indiana is growing much faster than personal income in Illinois.
High-income earners provide the majority of Illinois’ income tax revenue, and IRS data show that Illinois is losing these taxpayers to out-migration.
Hoosier homeowners keep more of their wages as a result of a statewide property tax cap and income tax cuts.