Funding Our Future: Reforming Illinois Tax Policy


October 29, 2010

Funding Our Future is a thorough analysis and overview of the Illinois’s long-term spending patterns, budget problems and tax policy. This Report also includes an analysis of the two major gubernatorial candidates’ respective budget proposals. Funding Our Future has been peer reviewed by independent PhD economists that are university-based, think tank-based, and working for the federal General Accounting Office.

Illinois faces a structural deficit, which is not caused by over spending or generous pensions. Instead, it is caused by Illinois' poorly designed tax system, which does not create enough revenue to sustain the state’s expenditures. This problem cannot be solved by cutting spending. This is because 9 out of 10 general fund dollars is spent on providing core-services. The better solution is tax reform. 

Topics:Tax and Budget, Illinois Budget, Revenue Policy

Tags:State Budget, Taxes, Inequality, Graduated Income Tax, Deficit, General Fund