Despite GDP Growth, Motor Fuel Tax Revenue Declines in Illinois
Despite modest economic growth, motor fuel tax revenue has fallen significantly in Illinois. The Illinois economy has grown by 31.2% since 2005, not adjusted for inflation. Meanwhile, an analysis of Illinois’ Comprehensive Annual Financial Reports finds that nominal motor fuel tax revenue collected has fallen by 9.4% since 2005.
Continue reading “The Decline of Motor Fuel Tax Revenue in Illinois”
Illinois now has the highest unemployment rate in the nation, tied with only Alaska. In the month prior to Governor Rauner assuming office – when Illinois had an operating budget – the state’s unemployment rate was 6.0%, compared to a national rate of … Continue reading Illinois Has the Highest Unemployment in the Nation
State of Illinois needs to invest more – not less – in higher education. A new ILEPI Economic Commentary examines the rising costs of higher education in Illinois’ public 4-year universities and the potential economic gains associated with lowering tuition costs. … Continue reading Illinois Would Benefit from Affordable Tuition
Illinois’ budget crisis can be resolved by raising taxes on the rich and cutting taxes for low-income and middle-class families, according to a new Policy Brief by the Illinois Economic Policy Institute (ILEPI). The memorandum corroborates recommendations by the non-partisan Civic Federation, the … Continue reading A Graduated Income Tax Could Save Illinois
Frank Manzo IV is the Policy Director of the Illinois Economic Policy Institute (ILEPI). Visit ILEPI at www.illinoisepi.org or follow ILEPI on Twitter @illinoisEPI. This post is part of the “Frankonomics” series. All states collect tax revenues in some form. Typically, the primary … Continue reading A Laffer Curve for State Income Taxes
We’re sick of the dysfunction in Illinois.
As someone who was born after 1981, I am considered a “millennial.” Last summer, my generation became the largest cohort in America.
We outnumber all other generations, but still it often seems that elected officials in Springfield have little concern for our general well-being.
Millennials tend to think that the government should be more involved in making college affordable, helping the poor, and creating jobs. We care about equality – both economic and social. And a smaller share of us sees a real difference between the Republicans and the Democrats.
So let’s just take a quick look at how Illinois is faring on those policy issues – college affordability, helping the poor, job creation, and equality. Continue reading “Grow Up.”
Two weeks ago, I wrote about how more infrastructure investment would kickstart the Illinois economy. Transportation infrastructure investment is one government spending item that conclusively boosts employment and reduces costs over the long run. Investment in human capital– in education and skills– is another.
Unfortunately, data from the Social Science Research Council’s Measure of America (scroll down for full data) illustrate how little the State of Illinois spends on transportation infrastructure and higher education compared to the rest of the country.
Continue reading “Illinois Spends Less on Higher Education and Transportation than Almost Every Other State”
It is time to Fix the Budget in Illinois. The Problem Illinois is experiencing a budget crisis. The State of Illinois now faces a $9 billion annual deficit, according to the Institute of Government & Public Affairs at the University … Continue reading Fix the Budget