New data shows Illinois since 2010 lost up to $32 billion in income from people moving out. Gov. J.B. Pritzker’s graduated income tax plan would hike rates on residents most likely to leave the state, on net.
Even after a 32 percent income tax hike, the Illinois General Assembly passed a state budget in 2017 that will generate an estimated $1.5 billion deficit in fiscal year 2018. That deficit is projected to grow to $2.15 billion in fiscal year 2019, according to the Governor’s Office of Management and Budget, or GOMB. The...
By fixing cost drivers, decreasing the cost of doing business in Illinois, and easing the tax burden, Illinois can encourage jobs growth and stand a better chance at attracting and retaining younger people.
Most people expect Illinois law enforcement to defend the private property of Illinois residents. As long as you obey the law, your life, liberty and property should be secure from the law – or so common sense would suggest. Yet, every year, Illinois law enforcement agencies take tens of millions of dollars in cash, vehicles,...
Newly released IRS data show Illinois lost on net over 81,000 taxpayers and their dependents, and $4.1 billion of annual taxable income to other states in 2013.
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.