Only Mississippi has fared worse than Illinois in personal income growth since the Great Recession hit at the end of 2007. Analysis shows state income taxes matter.
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.
One Illinois county in the greater St. Louis area is losing so many residents it ranks No. 5 nationwide for population loss. Its neighboring county was one of the few in Illinois to grow.
Chicago’s $1.15 billion projected budget gap is the latest in a decades-long string of structural deficits. Making Chicago’s high taxes worse is not the solution.