With the successful passage of 401(k)-style pension reform in Michigan’s state legislature, Illinois lawmakers should examine their own growing pension crisis and pursue bolder reforms to stabilize the state’s finances.
By fixing cost drivers, decreasing the cost of doing business in Illinois, and easing the tax burden, Illinois can encourage jobs growth and stand a better chance at attracting and retaining younger people.
Illinois had the highest black unemployment rate of any state at the end of 2016, holding that distinction for six consecutive quarters, according to analysis by the Economic Policy Institute. The Land of Lincoln also has the largest gap between its white and black unemployment rates.
Buried in the House rules lawmakers passed in January are a dozen new committees, bringing the total number of standing committees in the House to 45. Committee chairs receive a $10,326 stipend annually.
The U.S. Census Bureau released new migration data Dec. 20, and it’s frightening. Illinois has a massive people problem. From July 2015 to July 2016, the state’s population declined by more than 37,000 people. That’s the worst population loss in the nation, and will likely mean the loss of a seat in the U.S. House...
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...