While most other states in the union are tackling public employee pensions, cutting taxes and razing roadblocks to prosperity, Illinois remains the last bastion of fiscal foolishness.
An honest budgeting process requires some idea of long-term revenue expectations. In the aftermath of record tax hikes passed earlier this year, one has to ask: will state lawmakers respect the sacrifices taxpayers are making and budget responsibly? Three separate state entities—the Governor’s Office of Management and Budget, Office of the Comptroller and the legislative...
Excess red tape hurts business. Where superfluous laws and regulations prevail, businesses and individuals lose out. Kansas knows this, and has developed a plan to jump-start business activity in the Sunflower State: the Office of the Repealer. Last month Kansas Gov. Sam Brownback made good on a campaign promise by establishing the office (Appendix I, available...
The tax increases signed into law this month by Illinois Gov. Pat Quinn will cost most Illinois households $1,000 – equivalent to one or more weeks’ pay. How many families can afford to miss a paycheck? According to the U.S. Census Bureau, the average family living in the Midwest earns just under $60,000 annually and consists...
Illinois’ tax code stands in the way of the state’s economic competitiveness. The combination of high tax burdens and a poor tax structure contributes to the loss of jobs and investment to other states. From a place of former economic dominance, Illinois now ranks 45th in gross state product (GSP) growth over the past decade...