The Bureau of Economic Analysis

State’s record-breaking budgets make Illinoisans poorer

By Ted Dabrowski
12/25/2016
For each percentage point drop in the private sector’s share of the state economy, Illinois household incomes fall by over $3,000 on average. Unfortunately for Illinoisans, the private sector’s share of the Illinois economy has dwindled as government’s share – enabled through tax-funded spending – has risen to 25 percent.

TAGS: budget, household income, income tax, taxes

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Taxed out: 10 reforms to stop Illinois from losing people and jobs

Illinois’ tax code stands in the way of the state’s economic competitiveness. The combination of high tax burdens and a poor tax structure contributes to the loss of jobs and investment to other states. From a place of former economic dominance, Illinois now ranks 45th in gross state product (GSP) growth over the past decade...

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