Illinois’ weak economic foundations and fiscal mismanagement were preexisting conditions that caused it to suffer a deeper COVID-19 downturn. They will also hurt its recovery.
Illinois’ high levels of corruption damage the state’s economy, costing it $10.6 billion since 2000. States with higher levels of corruption average lower levels of economic growth.
Business sectors directly affected by the coronavirus and mitigation employ 1.5 million Illinoisans. The longer the shutdown, the more industries and jobs face cuts.
New data show Illinois lost private sector jobs amid a national economic expansion for the first year on record in 2019, a sign of the state’s deep structural problems in the run-up to the current market downturn.
Red-light cameras are taking more and more money from Illinois motorists. But dubious safety benefits, a cloud of corruption and a bipartisan bill in Springfield may combine to take them off the streets.
Chicago is the most corrupt city, and Illinois the second-most corrupt state, in the nation, according to a recent report by the University of Illinois at Chicago. But corruption in Illinois is more than a buzzword. It comes with social and economic costs. Not only does corruption lessen residents’ faith in the government, it decreases...
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.