The same group that rates Illinois’ state bonds as the worst in the nation recently reported that Illinois’ pension shortfall jumped by $53 billion in fiscal year 2012. Moody’s Investors Service said the funding shortfall of the state’s five pension systems – covering state workers, university employees, judges, legislators and teachers outside Chicago – now...

Income taxes will arguably be one of the most contentious issues during the current legislative session. And rightly so. Under current law, all Illinois families and businesses will receive tax relief in 2015. That’s because the state’s personal income tax is slated to drop to 3.75 percent from 5 percent, and the corporate income tax...

The “Sweetened Beverage Tax” bill – proposed legislation before the Illinois Senate – would impose a tax of one cent per ounce on all “bottled sugar-sweetened beverages” – has already started to receive a lot of attention. According to the bill’s authors, the tax would result in “a 23.5 percent reduction in sugar-sweetened beverage consumption” and “a...

Until the mid-1900s, people from across the world stampeded into Illinois in search of opportunity. Workers from rural America came to build Pullman cars, erect skyscrapers and fill factories. Immigrants from Eastern Europe arrived in search of economic freedom. And laborers left the agrarian South to participate in America’s industrialization. Illinois’ population doubled from 1900...