Pension costs for state government workers reached an all-time high in 2016, consuming 25 percent of the state’s general budget.1 Today, more than $8 billion of the state’s yearly $32 billion budget goes to pay for pension costs, sapping tremendous amounts of money from social services for the developmentally disabled, grants for low-income college students, and aid to home...View Report
State and local tax hikes in Illinois have hurt economic growth, lowered the standard of living, and contributed to out-migration.
Despite Illinois’ billions in deficit spending and skyrocketing debt, the Illinois House of Representatives passed House Bill 278, which would transfer an additional $300 million per year of state income tax funds to local governments, continuing to prop up local overspending that fuels high property taxes.
A new report from WalletHub finds Illinois’ combined state and local tax burden is higher than that of every other state and the District of Columbia.
Taxpayers shouldn’t be on the hook for such costly promises as they struggle to find opportunities of their own.
The Illinois Senate’s proposed budget deal is full of tax hikes because it lacks the necessary spending reforms needed to right Illinois’ fiscal ship.
Nearly 20,000 Illinoisans on net moved to the Hoosier State in 2015.
On average, Illinois schools spend $13,077 per student.
Local governments create TIF districts to encourage development in “blighted” areas; but TIFs often don’t deliver on promised economic benefits, while they do divert tax dollars from other uses and create opaque slush funds for the mayor to reward insider developers.
The governor should reject tax hikes and push for the structural spending reforms Illinois needs to fix its fiscal crisis and improve its economy.
Despite taxing both sales and income, Illinois has higher property taxes than every single state that does not charge an income tax.