Illinois’ manufacturing sector’s recovery from the Great Recession has lagged behind the recoveries of nearby states, demonstrating the need for bold, pro-growth reforms to set Illinois back on the path to success.
A new study from The Pew Charitable Trusts shows that Illinois’ tax revenues are up by 20 percent over their pre-Great Recession peak, debunking the oft-repeated mantra that Illinois is just one more tax hike away from solving its fiscal problems.
Newly released IRS data show Illinois lost on net over 81,000 taxpayers and their dependents, and $4.1 billion of annual taxable income to other states in 2013.
Newly released IRS data show Illinois lost on net over 81,000 taxpayers and their dependents, and $4.1 billion of annual taxable income to other states in 2013.
Illinois’ dismal business climate continues to inhibit jobs growth, especially in manufacturing, as the state put 25 people on food stamps for every factory job created during the recovery from the Great Recession.
Indiana and Michigan laid the framework for a manufacturing and jobs recovery. Until politicians in the Illinois General Assembly get serious about pursuing real reforms, the state’s jobs climate with continue to decline.
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.