The Case for Creating a Graduated Income Tax in Illinois
Release: February 1, 2012
Creating a graduated rate structure for the Illinois individual income tax is one long-term, structural policy change that would simultaneously stimulate job growth in the state, tax people more fairly and reduce Illinois’ General Fund deficits.This Report explains why a graduated rate structure is needed in Illinois, and how it would impact taxpayers and the state's budget.
Analysis of the Enacted Illinois FY2012 Budget
Release: October 1, 2011
This Report provides an analysis of the FY2012 Enacted General Fund budget. Key findings are: Detail on how the tax increases passed in January averted a fiscal disaster in FY2012; over $388 million in cuts to human service programs; and despite the recent tax increases and spending cuts, the FY2012 budget proposes over $1 billion in spending for which there is no revenue, and is subject to an accumulated deficit of over $7 billion after accounting for unpaid bills left over from FY2011.
Written Summary of Corporate Income Tax Expenditure Testimony
Release: July 19, 2011
The written summary of Ralph Martire's testimony on corporate income tax expenditures to the joint House and Senate revenue committee in August 2011.
Issue Brief: The Taxpayer Accountability and Budget Stabilization Act (P.A. 96-1496)
Release: February 9, 2011
This Issue Brief provides an overview of the Taxpayer Accountability and Budget Stabilization Act (P.A. 96-1496), which took effect in fiscal year 2011.
Initial Analysis of Recent Tax Increases and Spending Caps Implemented Under P.A. 96-1496
Release: January 26, 2011
This is a presentation of CTBA's analysis of The Taxpayer Accountability and Budget Stabilization Act (P.A. 96-1496), which temporarily increased the income tax rates in Illinois and implement spending caps of the General Fund budget.