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
Lawmakers routinely spend faster than taxpayers’ incomes grow. A new bill would put Illinois with the majority of states that limit taxes or spending.
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?
Robust growth in government spending has failed to yield similar results for Illinoisans’ incomes
Illinois job creation lagged the national median in nearly every sector.
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.
Nearly half of the 20 tax and fee hikes passed to support a record $40 billion state budget and $45 billion infrastructure plan hit on New Year’s Day.
Most new jobs in Illinois are created by small businesses, yet state leaders are asking voters to hurt them by raising taxes on these employment dynamos.
State spending has grown nearly 50 percent faster than Illinoisans’ incomes during the past decade. State Sen. Tom Cullerton, D-Villa Park, has proposed a constitutional spending cap that offers a long-term solution to the state’s budgetary problems.
Illinois Gov. J.B. Pritzker has said his first year deficit is $3.2 billion, but he intends to spend hundreds of millions more than planned under previous baseline budgeting.