Despite some growth, high unemployment remains an issue in Illinois. All 15 metropolitan areas showed higher rates of unemployment than the national average.
The state has enormous debts, and state leaders must pay it down or legally restructure obligations. Until they do, the painful reality is we can’t afford new spending.
A cap on the retailers’ sales tax credit will effectively hikes taxes on Illinois retailers by $186 million. Retailers are already facing razor-thin margins, but the record $53.1 billion state budget required $1.1 billion in new taxes.
Third grade marks a critical reading milestone: if students struggle then, they will face greater problems during the rest of their educations. State data shows 7 of 10 Illinois third graders can’t read at grade level, meaning there’s trouble awaiting most Illinois students.
Illinois state lawmakers’ spending plans came in $410 million higher than what Gov. J.B. Pritzker originally proposed. Taxpayers will be forced to pay $1.1 billion more so Illinois can spend record amounts in fiscal year 2025.
The typical racing fan will pay an extra $22 for general admission to Chicago’s NASCAR “Street Race Weekend” thanks to the city’s amusement tax. Luxury seating could cost residents more than the price of a standard ticket in taxes alone.
Black workers in Illinois face a tougher job market than peers nationally. Hispanic men, Asians face lower unemployment rates relative to peers in other states.
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.