Despite finding favor among some politicians and political candidates in Illinois, states with a progressive income tax are more vulnerable during recessions than flat-tax states.
As a result of the U.S. Supreme Court’s decision in South Dakota v. Wayfair Inc., most online purchases in Illinois will now be subject to automatic collection of the state’s 6.25 percent use tax.
A new report analyzes the effects of “tax increment financing” on communities across the nation – and calls into question the merits of the widely used development tool.
Lax oversight of Illinois’ little-known regional development authorities has led to questionable business arrangements with one official in particular.
Amid two record-breaking income tax hikes, growing property tax bills and population decline, the Land of Lincoln’s income growth is trailing the rest of the nation.
One wonders how many times an unpopular idea must be knocked down before it rises back from the dead. Especially when it means more money for the state. And especially in Illinois.
Chicago’s $1.15 billion projected budget gap is the latest in a decades-long string of structural deficits. Making Chicago’s high taxes worse is not the solution.