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.
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.
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.
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.