by Kolin Karchon On August 1st, the city of Central Falls in Rhode Island filed for Chapter 9 bankruptcy protection citing that “the city’s financial condition has deteriorated to the point where it is insolvent.” The city’s pension plan is expected to run out of assets by October, but city negotiations regarding benefit cuts with current workers...
Over the past decade, only Michigan and Ohio had worse private sector job growth than Illinois. The Prairie State’s private sector job growth was down 7 percent. That means 363,100 jobs disappeared between April 2001 and April 2011 — that’s equivalent to disappearance of Delaware’s entire private work force.
by Kristina Rasmussen As Illinois’s service sector grows (accounting for 32 percent of Illinois’s economy in 1977 and 48 percent in 2009), so has the desire to tax it. In 2009, the Illinois Senate tried to expand the state sales tax to a number of services (chimney sweeps, animal shelters, interior design services, and so on),...
Excess red tape hurts business. Where superfluous laws and regulations prevail, businesses and individuals lose out. Kansas knows this, and has developed a plan to jump-start business activity in the Sunflower State: the Office of the Repealer. Last month Kansas Gov. Sam Brownback made good on a campaign promise by establishing the office (Appendix I, available...
Earlier today in Florida, U.S. District Judge Roger Vinson ruled that the ObamaCare's individual mandate is unconstitutional and not severable from the legislation.
The Education Freedom Tax Credit, also known as the Federal Scholarship Tax Credit, will give Illinois students access to donor money if the state opts into the program.