On Jan. 12, 2011, the lame duck 96th General Assembly increased the state personal income tax by 67 percent and the corporate income tax by 46 percent. Illinois is already losing jobs at an alarming rate, and these tax increases will only further hurt the
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...