Rapidly rising property taxes and growing pension costs leave homeowners asked to pay more to get less. Relief requires structural pension reform, starting with a constitutional amendment.
Every state without an income tax has lower property taxes than Illinois. The progressive tax amendment includes no property tax reforms, so there’s no guarantee property taxes won’t rise as income taxes rise.
Illinois’ pension crisis has been a growing problem for decades, and its negative effects on state residents are well documented.1 Economic fallout from the COVID-19 pandemic and related government shutdown orders threaten to bring that long-running crisis closer to its breaking point. The state’s five pension systems collectively held nearly $139 billion of debt at...
The contractor who removed toilets from Illinois Gov. J.B. Pritzker’s mansion in a $331,000 property tax scandal received a nearly $9 million COVID-19 contract from the U.S. Army Corps of Engineers. The contractor hadn’t worked with the Corps in 76 years.
Numbers from the March WARN report show that employers in Illinois across various industries laid off 2,573 workers; 267 of the layoffs were in manufacturing.
November was a sad reminder of the corruption at various levels of Illinois government from retired House Speaker Denny Hastert to the small Village of Bellwood.
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...