The years 2010 through 2019 will go down in Illinois history as a decade of public policy failure and economic decline. High fixed costs for pensions and government worker health care have prevented the state from balancing its budget in any year since 2001. Since the Great Recession in 2008, the state’s fiscal imbalance has...View Report
Illinois suffered its sixth consecutive year of population decline in 2019, driven entirely by residents leaving for other states.
Financial stress testing shows Illinois and New Jersey are the most unprepared for the next recession. Both states lack sufficient rainy day funds and struggle with large pension debt.
While the governor has touted his plan as a way to stabilize state tax revenues, it would actually do the opposite.