Illinois needs a taxpayer bill of rights to urge policymakers to budget based on available revenue — or be prepared to subject tax increases to direct voter approval.
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.
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.