Both chambers of Kentucky’s legislature have passed, and Gov. Matt Bevin has promised to sign, legislation bringing worker freedom to Kentucky – and further weakening Illinois’ regional economic competitiveness.
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.
The expiration of the state’s EDGE program – which has given large companies more than $1 billion in tax credits the last 15 years – is good news for taxpayers and should encourage lawmakers to pass real reforms.
Illinois’ preliminary jobs report shows the unemployment rate dropped to 5.8 percent in July due to large numbers of residents dropping out of the labor force for the third consecutive month.
AFSCME does all it can to perpetuate the myth that it is the “little guy” – the victim – in any contract negotiations with the state. The evidence paints a different picture.
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.