Illinois state government leaders say they will spend a record $38.5 billion and borrow an estimated $11.5 billion over the next year, according to a fiscal year 2019 budget plan approved by Gov. Bruce Rauner.
While every state around it continues to grow in population and prosperity, Illinois keeps shrinking under the strain of higher taxes and more regulations, Michael Lucci, vice president of policy for the Illinois Policy Institute, said in an article on the institute's website.
Illinois’ average personal income growth since the Great Recession is tied with Nevada for the worst in the country, according to data from the Pew Charitable Trusts recently published on the Illinois Policy Institute website.
Illinois lawmakers betray their ignorance of the needs and opinions of taxpayers when they pass huge tax increases as a way out of the ongoing budget impasse, a policy expert said on a radio program recently.
The chances that Illinois will reach a budget before May 31 and avoid seeing its bond rating lowered to the worst of any state in history are 50-50 at best, according to Mark Glennon, founder of the business and government website WirePoints told the Sangamon Sun recently.