Even after a 32 percent income tax hike, the Illinois General Assembly passed a state budget in 2017 that will generate an estimated $1.5 billion deficit in fiscal year 2018. That deficit is projected to grow to $2.15 billion in fiscal year 2019, according to the Governor’s Office of Management and Budget, or GOMB. The...
Spending has consistently outpaced state tax revenues in Illinois for more than a decade. To avoid future tax hikes, Illinois must impose real fiscal discipline on state lawmakers.
Spending has consistently outpaced state tax revenues in Illinois for more than a decade. To avoid future tax hikes, Illinois must impose real fiscal discipline on state lawmakers.
By Orphe Divounguy, Austin Berg, Bryce Hill, Joe Tabor
01/22/2018
Illinois' jobs growth trailed that of the nation during the first half of 2017, then slowed to a halt in the wake of the General Assembly's record-breaking tax hike.