Pension costs for state government workers reached an all-time high in 2016, consuming 25 percent of the state’s general budget.1 Today, more than $8 billion of the state’s yearly $32 billion budget goes to pay for pension costs, sapping tremendous amounts of money from social services for the developmentally disabled, grants for low-income college students, and aid to home...View Report
A new report from WalletHub finds Illinois’ combined state and local tax burden is higher than that of every other state and the District of Columbia.
Illinois holds more than $66 million worth of stocks and bonds in PepsiCo, Coca Cola and Dr. Pepper Snapple alone.
A new proposal from state Sen. Toi Hutchinson, D-Chicago Heights, would tax internet streaming services in Illinois, much like the potentially illegal internet streaming tax implemented in Chicago.
In the wake of the “grand bargain” budget plan failure, an Illinois politician has proposed applying the 6.25 percent state sales tax to a broad range of services.
The Illinois Senate’s proposed budget deal is full of tax hikes because it lacks the necessary spending reforms needed to right Illinois’ fiscal ship.
The communities in the Quad Cities are nearly identical, but Illinoisans are fleeing to Iowa’s side from the Land of Lincoln’s side, showing just how severe Illinois’ out-migration crisis is.
Local governments create TIF districts to encourage development in “blighted” areas; but TIFs often don’t deliver on promised economic benefits, while they do divert tax dollars from other uses and create opaque slush funds for the mayor to reward insider developers.
The governor should reject tax hikes and push for the structural spending reforms Illinois needs to fix its fiscal crisis and improve its economy.
Hoosier homeowners keep more of their wages as a result of a statewide property tax cap and income tax cuts.
The Civic Federation’s budget plan repeats old mistakes with multibillion-dollar tax hikes and no serious, structural reform.