Impact on Illinois' Structural Deficit
Release: October 21, 2019
The state of Illinois faces a significant structural deficit into the future. The report highlights the nature of the structural deficit and identifies two key causes: the state’s historically flawed tax policy and the plan devised for repayment of Illinois’ pension debt. CTBA proposes both the adoption of the Fair Tax and a reamortization of the pension debt as described in the report titled: Addressing Illinois’ Pension Debt Crisis With Reamortization. Doing so would allow the State to ensure full funding for the Evidence Based Funding Formula while also improving the status of Illinois’ public employee pension system and eliminating the State’s structural deficit by 2042.
How Revenue and Spending Impact the Illinois General Fund
Release: May 6, 2015
PowerPoint presented by Ralph Martire at the Senate Revenue Hearing.
The Case for Fundamental Tax Reform in Illinois: Why We Need a Graduated State Income Tax
Release: May 23, 2012
Presentation on why Illinois needs tax reform, and the case for a graduated income tax.
Release: March 11, 2009
How the state elects to resolve its record deficit will have a meaningful impact on the size and duration of the recession in the state's economy. Given this scenario, the state's best hope of growing its economy and countering the recession is to close its deficit by raising taxes progressively and maintaining or expanding spending on services.
Issue Brief: Why Taxation in Illinois is Unfair
Release: January 23, 2008
This Issue Brief explains how Illinois' tax system is unfair, and how it can be improved.