Illinois spent 150% faster than Germantown Hills incomes grew during the past decade. A bipartisan ‘spending cap’ bill would allow predictable, sustainable growth in state spending without tax hikes.
Illinois spent 46% faster than St. Charles incomes grew during the past decade. A bipartisan ‘spending cap’ bill would allow predictable, sustainable growth in state spending without tax hikes.
Illinois spent 57% faster than Harvey incomes grew during the past decade. A bipartisan ‘spending cap’ bill would allow predictable, sustainable growth in state spending without tax hikes.
Illinois spent 57% faster than Elgin incomes grew during the past decade. A bipartisan ‘spending cap’ bill would allow predictable, sustainable growth in state spending without tax hikes.
Illinois spent 11% faster than Naperville incomes grew during the past decade. A bipartisan ‘spending cap’ bill would allow predictable, sustainable growth in state spending without tax hikes.
“People are voting with their feet, leaving Illinois every day and high property taxes are a big part of it."
Just more than three months after voters soundly rejected a progressive state income tax, new Illinois House Speaker Chris Welch is trying to revive the idea as a fix for state pensions. There is a better solution than the failed ‘fair tax’ scheme.
The budget proposal includes no reforms to pensions or other cost drivers, misleadingly labels various business tax increases as ‘closing corporate tax loopholes,’ and relies on gimmicks that conceal true deficits. And there’s a new gas tax.
While the private sector is held to a higher standard, rules from the Governmental Accounting Standards Board have enabled Illinois to engage in reckless financial practices that harm taxpayers and the state’s economy.
Delivered virtually Feb. 17, 2021, from the Illinois State Fairgrounds
Illinois needed federal aid far more than other states because of pension crisis inaction, as well as an irresponsible pandemic budget. Bailouts won’t protect taxpayers or services for vulnerable Illinoisans, but reforms can.
“If you try to go outside of your district here in the state of Illinois, you will pay tens of thousands of dollars per school year per student.”
The nation’s second-highest property taxes could come down if Illinois cut school bureaucracy and reformed public pensions. Until they do, fixing the housing stock is a tough sell.
A new report from government finance watchdog Truth in Accounting gave the Windy City an “F” for financial health. Chicago’s massive $36 billion net debt stems primarily from pensions.