The two months since the election have been the Land of Lincoln’s best stretch of employment growth in the post-recession era. But the state’s sudden job-creation steam will run out without a healthy fuel of economic-reform policies.
Illinois’ state-government compensation ratio – in other words, what state employees are paid relative to the state’s private-sector workers – is two-thirds higher than the national average.
For Illinois’ downstate communities that have felt the pain of out-migration and need to revitalize their industrial base, a local Right-to-Work ordinance can be their first step to a comeback.
Among the changes is a new posting requirement that provides only a one-hour notice before a committee hearing, diminishing transparency and accountability.
Utah passed a 401(k)-style reform plan in 2011. The state’s pension funds had a 50 percent chance of becoming insolvent by 2028 prior to the state’s reform plan – but the reform dropped that chance to 10 percent.
The Amazon tax is estimated to bring in more than $200 million in additional annual tax revenue to the state, an amount that is likely to grow. This provides a perfect opportunity to repeal Illinois’ death tax to offset the new revenue growth.
Twenty years of flight have wreaked havoc on state and local budgets, causing an estimated $7.6 billion in tax-revenue losses annually. Any long-term fix to Illinois’ budget crisis must address the state’s out-migration crisis.
Occupational licensing requirements present one of the steepest barriers to low-income Illinoisans starting careers in beauty services. Illinois requires anyone seeking to become a barber, cosmetologist, nail technician or hair braider to obtain a state license, essentially a permission slip to work. Unlike 45 other states, Illinois offers only one pathway to licensure for each...