The Jeep Cherokee manufacturer plans to lay off nearly 1,400 workers at its Belvidere, Illinois, facility and invest $4.5 billion in a 6,500-job expansion in Michigan.
Illinois Gov. J.B. Pritzker’s proposed state budget includes an estimated $19 million to $23 million in new revenue from a statewide tax on plastic bags. Illinois would be the only state in the nation to levy such a tax.
Illinois is one of just a handful of states that double-taxes people when they die by imposing its own estate tax atop the federal tax. A bill that would repeal Illinois’ estate tax could save family farms.
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...
Illinois already taxes 20 cents more per gallon of gasoline than Missouri. If state lawmakers add another 30 cents per gallon, expect an exodus of southwestern Illinois drivers buying gas and more in St. Louis.
Food stamp participation has seen an encouraging decrease, but lagging economic growth leaves Illinois ranked highest among neighboring states in SNAP enrollment.
By Orphe Divounguy, Suman Chattopadhyay, Bryce Hill
09/17/2018
Without property and income tax relief, housing in Illinois will continue to be less attractive, Illinois’ population is likely to continue its decline and housing price appreciation can be expected to continue to lag the rest of the nation.
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...