Special Report: Flawed Tax Policy is the Primary Driver of Illinois' Recurring General Fund Deficits
RELEASED:
June 3, 2013
The Taxpayer Accountability and Budget Stabilization Act of 2011 temporarily increased the personal and corporate income tax rates, providing the state with much needed revenue. This Special Report examines the impact of those tax increases on the state's General Fund budget deficits for fiscal years 2011-2013, and shows it is poor tax policy not spending on core services which cause these deficits.