If an Illinois worker takes a pay cut during a recession, she knows the state isn’t going to take an even bigger chunk out of her paycheck. That’s because the state income tax rate stays the same. But if her home loses value, too, she could still see her property tax bill go up. Government...View Report
Pension costs alone now consume a quarter of the Illinois state budget.
Under the stopgap budget, Illinois will spend $8 billion more than it collects in tax revenues; Illinois needs to enact major reforms to rein in its out-of-control spending and avoid billions in tax hikes.