More than a dozen Republicans joined House Democrats in passing a budget that includes a massive tax hike and no structural spending reforms. Gov. Bruce Rauner said he would veto the plan.
Illinois’ $1.3 billion in EDGE tax credits has brought in only 34,000 jobs since 2001, and has enabled politicians to hand out tax relief to select companies rather than lowering anti-growth taxes for all businesses.
In January several instances of corruption, influence peddling and mismanagement across Illinois were brought to light, from the College of DuPage’s expense-account mismanagement, to Chicago’s red-light-camera bribery case.
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...