After two long years, Illinois lawmakers finally passed a state budget. But not without a 5 billion dollar tax increase. Once again, taxpayers like you and I shoulder the financial burdens of this state thanks to our elected officials. Thank you very much.
With the passed budget comes a 67% increase to businesses, up from 5.25% to 7%, retroactive to July 1, 2017. In addition, over regulations placed on businesses by the government and the proposed minimum wage increase will only exasperate the issue further.
Recently, a Chicago-based research firm ranked Illinois as the 49th worst state for business, placing it only above California.
With a $96 billion pension debt and over $8 billion in unpaid bills, it’s no wonder Illinois is in the state it’s in. Yet politicians turn a deaf ear to its constituents once again.
In order for the Illinois economy to prosper, businesses should be encouraged to grow, thus adding more jobs and a stronger tax base for the state. Making it easier for businesses should be the mandate coming out of Springfield, not the opposite.
As the population of Illinois continues to shrink, one must have to believe that people are going elsewhere in search of employment with lower taxation.
As a small business owner in Illinois, I am disappointed in our elected officials as they cannot see the forest through the trees. Actually, I am more than just disappointed, I’m angry. Each month I clinch my teeth as I pay my monthly tax bill. Yep, Indiana is looking better and better every month.