Due to its poor financial health and lagging economy, Illinois carries unique economic and fiscal risks from a prolonged market downturn or recession. The state must act now to mitigate harm from COVID-19.View Report
Springfield needs to pull policy levers to mitigate harm. And they should do so as quickly as possible.
Three points stick out in recently released numbers: First, J.B. Pritzker is not a popular governor. Second, pollsters need to get real about the “fair tax” fantasy. And third, pension reform draws a diverse base of support, except at the Statehouse
Illinois law requires the governor to propose a budget balanced with existing revenues. To do so, Gov. J.B. Pritzker proposes cutting aid owed local governments, raiding the road fund, letting health insurance costs pile up and withholding taxpayers’ refunds.
There’s no doubt: the county taxed soda more, so people bought less of it. It’s a simple lesson. So why doesn’t Springfield get it?
The pension crisis is worse than the state admits, and the state’s official projections cannot be trusted.
Progressive income tax would essentially wipe out all 2019 employment gains in Illinois, and then some.
Illinois Gov. J.B. Pritzker previously floated a pension plan that included pawning-off state assets, taking on more high-interest debt and reducing pension funding before walking back the plan amid criticism. Here’s a real solution.
A progressive income tax would force nearly all joint filers in Illinois to pay higher income taxes than they would as single filers. Meanwhile, some wealthy couples would save thousands in state income taxes.
Despite Gov. J.B. Pritzker touting growth in “every major region,” Illinois shed jobs in three metropolitan areas and lagged the national average in seven more.
Fewer people want to live in states with progressive income taxes. So after 6 straight years of population loss, why would Illinois want to join them?