A Republican state representative from Shelbyville says Illinois is a cautionary tale, not a shining example of how a state’s economic policies should work.
Illinois legislators are nearing the end of the 103rd General Assembly. During Saturday’s brief session in the House, state Rep. Brad Halbrook, R-Shelbyville, used a point of personal privilege to address his concerns around the lack of progress on addressing economic issues in the state.
Several states are lowering personal taxes, switching to a flat income tax or fostering more policies for business development, he said.
“Across America, states are recognizing the power of a stable, pro-growth and competitive tax code to attract businesses and improve the life of their citizens,” said Halbrook.
He said Illinois hasn’t taken such steps, having among the highest property taxes in the country and high overall tax burdens with heavy restrictions on business.
“Illinois has become the greatest economic development tool that a neighboring or southern state can have,” Halbrook said. “This needs to change.”
To reverse Illinois’ economic doldrums, Halbrook said the state must address high property taxes, lower personal and corporate income taxes, and simplify the state’s tax code.
“We are losing [residents], businesses and economic opportunity to states that understand the importance of competitive tax policy,” he said. “We;ve become a cautionary tale instead of a shining example.”
Illinois’ unemployment rate is third worst of all states in the country with most neighboring states ranking much higher with lower unemployment rates. The state has also lost population 10 of the past 11 years, with last year’s gains attributed mainly to international migration into Illinois, offsetting more people moving out domestically.
Tuesday is the final full day of the 103rd General Assembly. The 104th General Assembly will be seated at noon Wednesday.