Without careful evaluation of whether Illinois’ pensions for newer employees are running afoul of federal rules or what the penalties would be, spending $78 million from the state’s budget is premature and wasteful.
Published Feb. 10, 2025 Even though federal COVID relief funds provided an unexpected windfall, that one-time jolt of cash could leave many Illinois localities even worse off than they were before. That boost in revenue allowed local governments to put off difficult budgeting decisions, and as that revenue dries up, municipalities will have to contend...
With nearly $214 billion in state and local pension debt threatening both retirees and government finances, Illinois needs a new path forward. Here are five principles to guide the state, protect taxpayers and safeguard public servants.
Illinois saw the third-highest rate of residents moving out in 2024 based on a survey by Atlas Van Lines. Jobs and taxes are among the top reasons people leave Illinois, which is also third in the nation for highest unemployment rate.
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...