Illinois politicians burden the state’s residents with the highest combined state and average local sales tax rate in the Midwest, along with numerous other taxes and fees.
The New York-based credit agency cited the lack of action on a budget as the primary reason for the downgrade.
The new tax on plastic bags is Chicago Mayor Rahm Emanuel’s latest revenue grab.
A set of structural reforms that protect taxpayers and put Illinois on the path to prosperity.
With Peoria and downstate reeling, the Caterpillar move comes at a time of persistent disinvestment in Illinois manufacturing.
Illinois lost 11,000 manufacturing jobs in 2016.
Metra’s plans to raise fares go into effect February, hurting commuters and failing to raise enough for stated capital needs.
Illinois state senators are considering a budget with massive tax hikes, but is short on critical pension reforms, which would save taxpayers billions.
Due to fiscal crises, both state and local governments are asking more and more from the same taxpayers – encouraging many of them to leave instead.
Nearly two-thirds of all school districts – and by extension, taxpayers – pick up some or all of each teacher’s required contribution.
Attempts to cut off state worker pay need not end in a tax hike.
Illinois spends more money on retirement costs than on university operations – and tuition keeps rising to prop up this overspending. Instead of hiking taxes to maintain current spending habits in higher education, politicians should shift priorities from propping up six-figure administrators to keeping tuition affordable for students.