The years 2010 through 2019 will go down in Illinois history as a decade of public policy failure and economic decline. High fixed costs for pensions and government worker health care have prevented the state from balancing its budget in any year since 2001. Since the Great Recession in 2008, the state’s fiscal imbalance has...
Illinois can do it the old way and raise taxes to deliver pork projects. Or Illinois can be smart and make each tax dollar work hard to deliver projects that help residents and the economy.
Gov. J.B. Pritzker inherited a $2.8 billion budget deficit the moment he stepped into office. Next year, that deficit is projected to be $3.4 billion1. It’s the same story every budget season. But Illinois’ budget crises could be a thing of the past if the state would adopt pension reform, right-size its union contracts and...
An important debate about the future of the Export-Import Bank of the United States is raging in Congress and in the media. The House Financial Services Committee held a hearing last month to ask if the bank was “corporate necessity or corporate welfare?” The Ex-Im Bank originated as a New Deal-era program, financing loans to...
The Mercatus Center, which conducts market-oriented research at George Mason University, released a study ranking the 50 states based on whether or not government polices promote fiscal and personal freedoms.
by Emily Dietrich In page after page of Atlas Shrugged, Ayn Rand depicts her real life hero – the entrepreneur. After a Library of Congress survey revealed that readers of Atlas Shrugged rate the novel only second to the Bible as the most influential book in their lives, it’s no surprise that this way of thinking has taken root. Entrepreneurs...
by Sameer Warraich Last week, Crain’s Chicago Business reported the results of recent research on the manufacturing performance of all 50 states. The study, by Ball State’s Center for Business and Economic Research, gave each state a grade based on criteria including manufacturing and logistics health, human capital, cost of benefits, global position and diversification of industries,...
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.