Midwestern United States

How Trump’s tax proposals would affect Illinois

By Michael Lucci
05/01/2017
The corporate tax reforms under President Donald Trump’s proposed tax plan could strengthen Illinois’ position as a home for businesses, but the state’s uncompetitive income, property and death tax policies would put its residents at an even greater disadvantage with respect to other states if the president’s plan passes.

TAGS: Chicago, corporate income tax, death tax, Donald Trump, estate tax, income tax, outmigration, population, property taxes, tax credits, taxes

Multibillion-dollar tax hikes will only exacerbate Illinois’ weak economic activity

By Ted Dabrowski, Craig Lesner
04/13/2017
The latest report from the Commission on Government Forecasting and Accountability shows Illinois experienced falling tax collections, indicating trouble in the state economy. Spending reforms – not tax hikes – are what Illinois needs to right its fiscal ship and boost economic growth.

TAGS: budget, COGFA: Commission on Government Forecasting and Accountability, Dan McConchie, Kyle McCarter, Moody's Investor Service

Workers’ compensation estimated to cost Illinois taxpayers nearly $1 billion per year

By Michael Lucci
04/05/2017
Workers’ compensation is a significant cost to Illinois taxpayers and drains scarce tax dollars from government coffers. A previous report in this series estimated the direct cost of workers’ compensation to state, county and municipal governments is $402 million in worker payouts per year.1 Building upon those findings, this report estimates that the total cost of workers’ compensation to...