Lawmakers using the Center for Tax and Budget Accountability to convince constituents how great a progressive tax could be for Illinois are doing a disservice. Here are the straight tax facts.
A new report would have Illinoisans believe that a progressive income tax means tax cuts and economic growth. Illinois lawmakers’ tax-and-spend tendencies and evidence from all 50 states say otherwise.
To advance its political agenda of imposing a progressive income tax on hard-working Illinoisans, the CTBA is misrepresenting Adam Smith in an attempt at legitimacy.
Illinois is home to one of the worst pension crises in the country.1 At 39% funded, according to the nonpartisan Pew Charitable Trusts, Illinois has the worst pension funding ratio of any state.2 By contrast, neighboring Wisconsin’s pension system is 103% funded.3 In fiscal year 2022, Illinois’ total general funds pension costs, including pension bond...