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
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.
Robust growth in government spending has failed to yield similar results for Illinoisans’ incomes
Home price appreciation in Illinois was the slowest in the U.S. between the third quarter of 2018 and the third quarter of 2019, federal data showed.
Illinois job creation lagged the national median in nearly every sector.
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.
Gov. J.B. Pritzker’s “fair tax” plan falls far short of the revenue needed to pay for his spending promises – feeding fears of future tax hikes on middle-class families.
Local governments must maintain certain financial records, but not all make it easy for taxpayers to obtain it. A bill headed to the Illinois House floor would put local government financial records online.
The new governor has thus far refused to address the root causes of Illinois’ dismal finances.
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.
A progressive income tax structure in Illinois would mean tax hikes on the middle class. State Rep. Jerry Costello, D-Smithton, has joined the fight against a progressive tax hike in Illinois.