Illinois is one of the states with the most to gain from the continued national jobs recovery, but could be hit harder than other states by a recession.
Despite a full year of job gains, all Illinois metropolitan areas are missing jobs since the pandemic began and the recovery stalled. While May brought job gains statewide, only eight metro areas saw gains while seven saw losses.
U.S. Steel is cutting up to 1,000 jobs and selling parts of its Granite City plant. The move comes as Madison County employment remains down over 5,600 jobs since the pandemic.
The majority of the support for a constitutional amendment that would raise taxes on Illinoisans comes from union coffers, with nearly $5 million donated so far. Unions also funded the failed progressive tax push in 2020.
One of the state’s biggest employers is relocating their headquarters to Irving, Texas. A decade ago Caterpillar’s CEO warned state leaders of business losses unless they balanced the budget, controlled workers’ comp costs and cut taxes. He was ignored.
The average American pays $6,000 in subsidies to corporations every year, but that gigantic chunk of taxpayer change simply is not enough for some special interests.
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.