A recent report from the Illinois Department of Employment Security revealed the state lost at least $14.8 million to fraudsters during the pandemic. But experts warn the full extent of state fraud could be closer to $1 billion.
With an abundance of freight lines and roadways, along with a reliable power grid, Illinois placed No. 1 in the U.S. for infrastructure. But state finances are a threat, and political pork needs to give way to projects that move the most people and goods.
Illinoisans pay one of the highest sales tax rates in the nation when local and state sales taxes are averaged. The average rate of 8.83% was up slightly from a year earlier.
Illinois employers are hurting from a lack of workers while the state unemployment rate remains high. When a parent can stay home and make $51,627 on unemployment, the prospects of getting more workers back to work this summer appear dim.
A Volcker Alliance report on truth and integrity in state budgeting finds Illinois lacking. Debt, budget gimmicks and thin reserve funds gave the state poor marks.
The first step of passing a budget is to determine how much is available to spend. Illinois routinely misses the mark in estimating future revenues. There is a solution.
The minimum wage for residents working in Chicago and Cook County is increasing July 1. Research suggests the rise in wage rates will benefit the working Chicagoans at the expense of the city’s vulnerable unemployed.
When Illinois state lawmakers and Gov. J.B. Pritzker doubled the state gasoline tax in 2019, they built in automatic annual increases to avoid voting for future hikes. The tax increases another half cent on July 1.
Because Illinois state lawmakers waited until the last minute to pass a budget, no one noticed multiple errors that could have halted about half of the state’s spending until a month before the fiscal year ended. Haste makes waste of taxpayer dollars.
Illinoisans will pay nearly one-third more in taxes during their lives than the average American. They will pay almost double what Indiana and Kentucky residents will pay.
The fiscal year 2022 budget includes pay hikes for members of the Illinois General Assembly, who were already among the nation’s highest-paid state lawmakers. It also boosts office allowances and leader stipends.
Leaders claimed the budget was balanced and included no tax hikes, but neither is true. Illinois state lawmakers for the 21st time passed a deficit budget – one that includes $655 million in new taxes and a nearly $1,200 raise for themselves.
Pritzker borrowed during the pandemic rather than making responsible budget decisions. So Illinois’ federal relief must repay debt rather than helping businesses recover like other states.
Illinois politicians used Madigan’s teachings – avoid messy democracy and disenfranchise taxpayers – by again waiting until the last minute to pass major legislation. Good things rarely grow in the dark.