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June 24, 2022

Illinois' richest resident announced Thursday he was jumping ship to South Florida, but how much will the move affect the state’s tax coffers? Losing out on one taxpayer’s loot, even the state’s wealthiest resident, would amount to a “rounding error” in a state with a $46.5 billion budget, said Ralph Martire, executive director of the Center for Tax & Budget Accountability. Carol Portman, president of the Taxpayers' Federation agreed, saying “that’s real money, but it’s not devastating.”

Source: Crain's Chicago Business