A new report by the Illinois Economic Policy Institute and the University of Illinois at Urbana-Champaign finds that legalizing and taxing sports betting could create 2,500 jobs and increase state tax revenue by about $100 million annually.
La Grange: A program to legalize sports betting could create 2,500 jobs, increase tax revenue by $100 million annually, grow the Illinois economy by over $500 million, and reduce illicit black market gambling, according to a new study by the … Continue reading New Report Assesses Proposals to Legalize Sports Betting in Illinois
A new report finds that the State of Illinois could generate over $500 million in new tax revenues from legalizing recreational marijuana. Continue reading “Illinois Would Generate Over $500 Million Per Year By Legalizing Marijuana”
La Grange: In the wake of Michigan becoming the tenth U.S. state to legalize marijuana on Tuesday, new research finds that the taxation and regulation of marijuana in Illinois could create nearly 24,000 new jobs, boost the state’s economy by $1 … Continue reading Study: Marijuana Legalization Would Benefit Illinois Taxpayers and Boost Economy
On Wednesday, May 2, the Illinois House Revenue & Finance Committee held a hearing on the possibility of a progressive income tax in Illinois. Frank Manzo IV, MPP, Policy Director of the Illinois Economic Policy Institute (ILEPI) provided a brief testimony. Here is what he said. Continue reading “ILEPI Testimony on a Progressive Income Tax Before the Illinois House”
Eliminating the Community Development Block Grant (CDBG) program would directly impact more than 464,000 people in Illinois; state and local governments would lose access to $116 million in federal funding. Continue reading “Eliminating the Community Development Block Grant Program Would Hurt the Illinois Economy”
The future of the Public Service Loan Forgiveness (PSLF) program is uncertain under the Trump Administration, but eliminating the program would bring negative consequences to Illinois’ workers and economy. Continue reading “The Public Service Loan Forgiveness Program Benefits the Illinois Economy”
Eliminating the Public Service Loan Forgiveness (PSLF) Program and the Community Development Block Grant (CDBG) Program would Hurt Students, Low-Income Families, and the Illinois Economy. Continue reading “Federal Tax Cuts Would Put Billionaires Ahead of Working Families”
FEDERAL BUDGET CUTS THREATEN LOW- AND MIDDLE-INCOME FAMILIES IN ILLINOIS Trump Administration’s proposal to eliminate Community Development Block Grants and Public Service Loan Forgiveness program would hurt economy and adversely impact 500,000 state residents each year. La Grange: The Trump Administration’s proposal to … Continue reading Tax Plan Could Threaten Illinois’ Most Vulnerable Residents, New Studies Show
Economic development subsidies should create jobs, increase wages, and promote positive economic growth, but these goals do not consistently prevail. Continue reading “Reforms Needed to Ensure Accountability in Economic Development Subsidies”
Illinois has spent at least $4.9 billion in state and local business subsidies since 2000, after adjusting for inflation. This equates to $288.5 million per year. While these subsidies have saved or created some jobs in the state, Illinois could have created even more jobs and more economic growth if tax dollars had instead been invested in public infrastructure and public education.
Subsidies play a prominent role in economic development policy at both the state and local levels in Illinois, yet subsidy policies continue to lack the strict scrutiny they deserve. Continue reading “Economic Development Subsidies Not Consistent with Socio-Economic Needs”