Gov. Pritzker’s five-year budget plan aims to pay off debt, cut taxes “for most” and raise taxes, significantly, on others, and seek to stimulate economic growth. The plan — given the prevailing circumstances — makes big promises for growth to better the state’s fiscal footing. Color me skeptical of these lofty goals.
Working for the state can have some major benefits. For decades it was assumed state workers were giving up short-term salary opportunities for long-term retirement stability. That long-held belief is being tested now because when it comes to retirement, many state...
The hot topic in Illinois right now is the new minimum wage hike to $15.00 an hour. Newly elected Governor JB Pritzker had made raising the state’s minimum wage — which is higher than the federal minimum wage right now — a top priority, fast.
The recent gubernatorial and current Chicago mayor elections have brought forth a plethora of new taxing ideas. While no politicians seem interested in less government spending or reducing the size and scope of government’s gigantic footprint in Illinois, literally dozens of new fees or taxes have been bandied about by Illinois politicians.
Here’s a tough pill to swallow: Illinois boasts the highest tax burden in the Midwest, and near the highest nationwide. Many of these taxes have been implemented or raised by politicians to try and help relieve the burden of the Illinois government’s over-the-top spending and deep deficits.
There’s no simple solution, but the causes of this exodus are pretty apparent. If legislators can’t find a means to create more economic opportunity and a more stable budget, the entire state could eventually find itself in a death spiral.
Here is a breakdown of what House Bill 5432 means and who it benefits and on the adverse, who it doesn’t.
Illinois has not had a properly balanced budget since 2001, but a lax budget is not the reason behind their overall financial crisis. The root of their financial crisis is misguided spending priorities.
Welcome to Ron Sandack's website about politics! Check back soon for the latest post from Ron!