Small businesses are the engine of Illinois’ economy. But those responsible for creating nearly two-thirds of Illinois’ jobs in 2017 would get hit under the progressive income tax plan just released by Gov. J.B. Pritzker.
Every relationship comes with its sacrifices. But for an alarming number of Illinoisans, parting ways with Illinois is how they choose to get on with their lives.
An amendment to scrap Illinois’ constitutional flat tax protection is gaining sponsors in the Illinois Senate. Lawmakers have refused to discuss rates since those details killed the last progressive tax attempt.
Illinois’ fastest-growing jobs sector in 2018 was government – another sign the state needs pro-growth reforms to keep up with the rest of the country.
Reversing the state’s outmigration of residents and encouraging the job creation Illinoisans need to thrive – and the state needs for stable revenues – require lawmakers to rein in government overspending and resist calls for tax hikes that would further depress Illinois’ economic growth.
It’s the fifth year in a row Illinois has lost people. And the fifth year in a row that the loss has gotten worse. No other state finds itself adrift in five consecutive years of worsening population decline.
Chicago’s $1.15 billion projected budget gap is the latest in a decades-long string of structural deficits. Making Chicago’s high taxes worse is not the solution.