On Nov. 5, Colorado voters defeated a progressive income tax increase by a two-to-one margin — more than 66 percent of the voters said no to higher taxes. Colorado’s Amendment 66 was a ballot initiative to swap out the state’s competitive flat rate income tax for a progressive income tax increase. Specifically, lawmakers wanted to...

A new Tax Foundation report reveals one of the reasons why Illinoisans are finding it so hard to get jobs – it’s getting more and more expensive for businesses to operate in Illinois. The Tax Foundation released today its 2014 State Business Tax Climate Index, confirming the state’s worsening position. Illinois has dropped 15 spots to...

Illinois’ residents and businesses pay some of the nation’s highest taxes. Illinois has the ninth-highest state and local tax burden per capita, the second-highest property tax burden as a percentage of median home value and the fifth-highest gasoline tax. A recent Tax Foundation study shows that Illinoisans also pay the nation’s 11th-highest combined state and local sales tax rates. The report...

Nine states with the highest personal income tax rates lost $90.05 billion in taxable income between 2000 and 2010.

by Brian Costin Gov. Pat Quinn just hiked my property taxes. And, if you’re younger than 65 years old, he just hiked your property taxes too. But if you attended Quinn’s bill signing ceremony for Senate Bill 1894 you would have seen him championing himself as a fighter against Illinois’ outrageously high property tax rates, as evidenced...

A growing percentage of taxpayers owe nothing in income taxes after accounting for credits and deductions.

After tax credits and deductions are taken into account, the effective tax rate for top earners is more than twice the national average – further proof that the tax burden is most definitely progressive.

After several hours of debate, the city council voted 6-3 to raise the sales tax from 8 percent to 8.5 percent to repay an $86.6 million, 15-year bond issue to finance the three-year infrastructure program.