Despite statewide job gains in June, eight of Illinois’ metro areas lost jobs for the month. Most areas still haven’t recovered to pre-pandemic job levels.
A Chicago civic group suggests either increasing the state’s personal and corporate income taxes for 10 years or implementing a retirement tax to help pay for the state’s worst-in-the-nation pension debt. Here are the problems with that plan.
Low-tax states attract the majority of movers, while high-tax states push them away. Illinois takes nearly 13% of all money made in the state as taxes, and lost 141,656 residents in 2022.
Plenty of Illinoisans will be on the road this holiday season, with record-high travel across the nation. Filling up for the trip is pricey in Illinois and will get even pricier after Jan. 1.
A new survey found Illinois reported the third-highest increase in small business rent delinquency nationwide during November, with 40% of respondents unable to pay rent on time or in full.
AAA predicts nearly 55 million people will travel for Thanksgiving this year, only 2% less than Thanksgiving travel in 2019. Illinoisans hitting the road should try to fill up in other states.
During the past five years, Illinois’ business tax climate has gotten worse while all neighboring states improved or held steady. Six companies this year said they are relocating, and the exodus may not be over.
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.