State lawmakers should reform Illinois’ overly complicated sales taxes and other anti-business taxes, which violate guiding principles of sound tax policy.
Illinois’ jobs situation improved in May, but the state needs long-term solutions such as a spending cap to get on a path to fiscal health and assure investors more tax hikes are not on the horizon.
Atlantic Coca-Cola Bottling Co. plans to move its Rock Island facility to Walcott, Iowa, where the company is expected to receive substantial tax incentives.
If Illinois adopted Virginia’s spending habits along with policies that can reduce costs and raise home values, the Prairie State could vastly reduce the property tax burden that Illinois homeowners currently face.
The worst years of the Great Recession are in the rear view. But if the latest gloomy fiscal forecast is any indication, Illinois' persistent policy mistakes will drag down its economic performance well into the future.
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.