New findings from the Mercatus Center highlight how Illinois’ reliance on debt and costly pension and other employment benefits have put the state on the wrong fiscal track.
Effective July 20, 2017, residents wishing to host visitors in their homes between one and thirty days must apply and pay $50 for a license. The city must inspect the property and deem it up to standards.
Illinois loses more millennial taxpayers and dependents to other states than any state except New York.
Illinois’ debt per student is the 11th highest of any state in the nation. It is almost 15 percent higher than the national average of $8,764.
That total comes from $2.4 million lost due to the absence of Powerball ticket sales and $1.4 million lost due to the absence of Mega Millions ticket sales.
Illinois’ 32 percent income tax hike will steal nearly an entire year’s worth of income growth from Illinoisans.
More than 50 Illinois counties, municipalities and business districts started imposing sales tax increases ranging from 0.25-1.5 percent as of July 1.
Chicago Public Schools failed to pay in full the $733 million pension payment that was due June 30, instead making a partial payment of $464 million, even after taking out a $387 million loan from JPMorgan.