Excise taxes have failed to improve Illinoisans’ health while creating an undue burden for those with the least. But lawmakers have yet to kick the habit.
Illinois’ uneven recovery reflects national trends, but also raises important questions about the state’s economic future ahead of a key tax hike vote.
Illinois can do it the old way and raise taxes to deliver pork projects. Or Illinois can be smart and make each tax dollar work hard to deliver projects that help residents and the economy.
Gov. J.B. Pritzker inherited a $2.8 billion budget deficit the moment he stepped into office. Next year, that deficit is projected to be $3.4 billion1. It’s the same story every budget season. But Illinois’ budget crises could be a thing of the past if the state would adopt pension reform, right-size its union contracts and...
By Orphe Divounguy, Suman Chattopadhyay, Bryce Hill
09/17/2018
Without property and income tax relief, housing in Illinois will continue to be less attractive, Illinois’ population is likely to continue its decline and housing price appreciation can be expected to continue to lag the rest of the nation.
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.