Most new jobs in Illinois are created by small businesses, yet state leaders are asking voters to hurt them by raising taxes on these employment dynamos.
Illinois’ unemployment rate hit 3.9% in September – the first time in decades that the jobless rate went under 4%, according to data from the U.S. Bureau of Labor Statistics.
According to a new report by Moody’s Investors Service, Illinois’ unfunded pension liabilities equaled 601 percent of state revenues in 2017, a U.S. record.
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.