The governor’s agenda should be cause for optimism across the state: competitiveness, not cronyism, is the right path forward to spark an Illinois comeback.
Since the January 2011 tax hikes, Illinois’ recovery slowed down, the rest of the Midwest sped up and the rest of the U.S. significantly accelerated. The Great Lakes states performed in lockstep with how well they fostered the free-enterprise system.
The two months since the election have been the Land of Lincoln’s best stretch of employment growth in the post-recession era. But the state’s sudden job-creation steam will run out without a healthy fuel of economic-reform policies.
There are now 1.06 million more Americans working than when the recession began. In comparison, there are 232,000 fewer Illinoisans working over the same time period, the second-largest employment gap in the U.S.
Illinois’ tax code stands in the way of the state’s economic competitiveness. The combination of high tax burdens and a poor tax structure contributes to the loss of jobs and investment to other states. From a place of former economic dominance, Illinois now ranks 45th in gross state product (GSP) growth over the past decade...