Polling shows that Illinoisans are overwhelmingly opposed to an income tax hike, and Illinois’ poor economic growth combined with wealth out-migration mean billions in tax hikes will only inflict further damage on a struggling state.
A four-year freeze riddled with exceptions won’t help Illinois homeowners. Illinoisans need a long-term freeze on local property tax levies and a cap on the tax burden for individual homeowners.
Illinois has been lagging behind the rest of the region over the last decade, and will continue to do so if the state doesn’t enact necessary economic reforms.
A new report from the Illinois Department of Employment Security shows Illinois had a modest net gain of 2,400 jobs in May, but still has fewer jobs today than before the Great Recession began.
Illinois’ total state economic activity has increased by only 4 percent since 2007, which is lower than the U.S.’ 10 percent GDP growth during the worst decade of the Great Depression.
Among the inspector general’s suggestions are shortening the length of contracts, allowing subcontractors to take over more services, and keeping employee compensation in line with what taxpayers can afford.
The Education Freedom Tax Credit, also known as the Federal Scholarship Tax Credit, will give Illinois students access to donor money if the state opts into the program.