Workers’ compensation is a significant cost to Illinois taxpayers and drains scarce tax dollars from government coffers. A previous report in this series estimated the direct cost of workers’ compensation to state, county and municipal governments is $402 million in worker payouts per year.1 Building upon those findings, this report estimates that the total cost of workers’ compensation to...View Report
High-income earners provide the majority of Illinois’ income tax revenue, and IRS data show that Illinois is losing these taxpayers to out-migration.
About two-thirds of state revenue comes from income and sales taxes.
Senate Bill 9 would apply a 6.25 percent sales tax to laundry, dry cleaning, storage units and parking garages, among other services.
Under a 2015 agreement between the Department of Commerce and Economic Opportunity and The Advisory Board Co., the state gave a tax credit worth millions of dollars in exchange for 55 jobs.
With bipartisan support, members of the Illinois House adopted a resolution opposing the internet streaming tax proposal – which might not even be legal — in the Senate’s “grand bargain.”
House Bill 3393 would impose a 20 percent surcharge on fees earned by investment managers.
If voters approve proposals to raise St. Clair County sales taxes by a combined 2 percent, people in some parts of St. Clair County would face total sales taxes of over 11 percent.
Legislation with bipartisan support in the House would oppose the internet streaming tax proposal – which might not even be legal – in the Senate’s “grand bargain.”
Illinois state government works to prioritize special interests over taxpayers – and the budget deal being negotiated in the Senate would continue that.
State and local tax hikes in Illinois have hurt economic growth, lowered the standard of living, and contributed to out-migration.