Adjusted gross income

Out-migration is breaking Illinois budgets

By Michael Lucci
01/25/2015
eric-allie-illinois-outmigration
Twenty years of flight have wreaked havoc on state and local budgets, causing an estimated $7.6 billion in tax-revenue losses annually. Any long-term fix to Illinois’ budget crisis must address the state’s out-migration crisis.

TAGS: budget

Illinois: $27 billion in tax increases since 2011

05/21/2014
A new report by Americans for Tax Reform shows that Democratic governors have enacted more than $58 billion in tax increases since 2011. Republican governors, on the other hand, have collectively signed more than $36 billion in tax cuts. Maryland Gov. Martin O’Malley, one of the nation’s top five most tax-happy governors, has signed 29 tax increases...

A progressive income tax means fewer resources for businesses to invest, grow and create jobs

By Benjamin VanMetre, Erik Bauman
04/09/2014
A progressive income tax would hit Illinois’ businesses community hard. That’s because S corporations and most partnerships “pass-through” their income to the individual owners of those businesses, meaning their profits are taxed at the state’s personal income tax rate. That’s on top of the 1.5 percent replacement tax these businesses pay. State Sen. Don Harmon...