2014 March Issue

Progressive income tax proposals could weaken Illinois’ recovery and inhibit economic growth     The Land of Lincoln is faced with a major debate about how to tax income. In the last few years, the debate about progressive income taxes has been hashed out in states as diverse as Colorado and Washington, where voters have rejected…

EDITOR’s NOTE: Following is an Illinois Business Journal overview of two bills that propose to change Illinois’ income tax law from a flat tax to a graduated tax. On the following two pages are this month’s Point/Counterpoint, which give opposing views on the proposals.        “Graduated” and “progressive” have positive-sounding connotations, but when they’re used…

    A new study of business growth sounds a rare positive voice against a chorus of negativity about the Illinois economy.    A report by Economic Modeling Specialists International says Illinois ranked third among the states in new business establishments created from 2009 through 2012.    Only Texas and New York state have seen more new businesses…

    From composting to transportation, “green collar jobs” are increasingly recognized as a vital part of the economy, but the sustainability of the movement is harder to predict, a bit like monitoring a plant in its growth stage.    The proof will come with time, supporters like Nate Keener say.    “Right now, a majority of employers…

    The door is finally cracking open to improvements in the housing market, and local realty agents are offering cautious but hopeful projections for 2014, despite the wintry setback of the last several weeks.    Realtors in St. Clair, Monroe and Clinton counties sold more homes in 2013 than they did in the previous five years,…

Fair, graduated rate income tax would be a positive step forward for Illinois     If given the choice, here’s betting you’d want elected officials in Springfield to enact policy initiatives by ignoring their guts and instead doing the research needed to suss out the right solutions, relying on best practices and evidence. The harder question…