There’s a reason new facilities aren’t being built in Illinois: In too many cases a business investment in Illinois doesn’t make financial sense unless Illinois taxpayers are paying for a chunk of the project. This system isn’t good for businesses, or for workers and unions that are losing jobs. Until Illinois makes the broad tax and regulatory reforms needed to compete for blue-collar jobs, businesses are going to keep expanding elsewhere or asking for tax breaks to come here.
A new report from the Illinois Department of Employment Security shows Illinois gained 5,400 jobs in April, but the state’s unemployment rate ticked up to 6.6 percent, tied for highest in the U.S.
Illinois is one of four states in the entire U.S. to have fewer private sector jobs today compared to the turn of the century. The Land of Lincoln needs pro-growth reforms to allow the state’s private sector to rise again.
Residents of suburban Chicago’s Community Consolidated School District 15 have seen their incomes remain flat – or drop. Meanwhile, school district officials have committed these same taxpayers to fund a 10-year contract, which the public has never seen.
Total compensation for affected legislators and statewide officeholders equals about $1.3 million per month, according to the comptroller. On top of salaries, taxpayers also have to foot the bill for lawmaker pensions – in Illinois’ active legislators will each cost the state budget about $180,000 next year.
Since the state's recession bottom, Illinois has regained less than 5 percent of its manufacturing jobs — the worst rate of recovery among all neighboring states.
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...