Combined state and average local sales tax rate tallies 8.85% in Illinois for 2024. That’s the highest in the Midwest and seventh highest in the nation.
Seven of 13 Illinois metro areas added jobs from November to December 2023, led by the St. Louis area. Five metros still reported fewer jobs than prior to the pandemic.
Non-tipped workers will see their hourly wage hit $14 an hour while tipped employees will collect $8.40 thanks to the next minimum wage hike on January 1, 2024.
State politicians like to pass laws they claim will make Illinoisans healthier by taxing their naughty habits. The taxes rarely are as lucrative as projected and hurt some more than others.
Employment is the clearest path out of poverty, but these five low-income professions face more occupational licensing burdens than others in Illinois.
The new report published by Headset found Illinoisans are paying 89% more for the average cannabis item than the rest of the nation. Researchers attribute the high prices to stifled competition.
Five Midwest states have enacted or expanded school choice programs since the Invest in Kids Act was enacted in 2017. Now Illinois’ scholarships are set to expire while other programs thrive.
Despite statewide job gains in June, eight of Illinois’ metro areas lost jobs for the month. Most areas still haven’t recovered to pre-pandemic job levels.
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...