State Budgets: Illinois in a Holding Pattern

July 22, 2009

Illinois kicked the can down the road, not raising taxes but also not cutting much spending. Gov. Pat Quinn (D) had urged hiking the state’s flat income tax from 3% to 4.5%, which would harm pretty much the only bright spot in the state’s distortive and burdensome tax system. The state’s defined-benefit pension fund has sharply dropped in value, and the state will borrow $3.5 billion to make its payment this year, a hefty part of the budget gap.

More on Illinois here.

Was this page helpful to you?


Thank You!

The Tax Foundation works hard to provide insightful tax policy analysis. Our work depends on support from members of the public like you. Would you consider contributing to our work?

Contribute to the Tax Foundation

Related Articles