All that grumbling about the corporate tax hike increase? Turns out that Illinois companies are doing fine even with it. more ›

Sure, a lot of people and businesses are cheesed about the state income tax hike. But, as Kevin pointed out last week, it was the necessary thing to do. But that isn't stopping other states from using the income tax hike to lure businesses to their states. We know Wisconsin has dangled a carrot to Illinois businesses, offering two years of no taxes to pull up stakes for America's Dairyland. Now, here comes New Jersey Governor Chris Christie — the one state in a worse financial situation than Illinois — with an ad campaign intended to lure Illinois businesses to the Garden State. more ›

Wisconsin Gov. Scott Walker and other elected officials see lemonade from the lemons of Illinois' income tax hike. Walker, who you'll remember rejected $810 in high-speed rail stimulus funds because he couldn't divert them to highway projects, launched a media campaign in the Chicago area to entice Illinois businesses to move their headquarters to Wisconsin with a promise of two years of tax-free existence. more ›

The Illinois General Assembly burned some midnight oil and passed a 66 percent increase in the state income tax with mere hours to spare before the new General Assembly is to be sworn in today. The votes in the both houses of the State Legislature went straight down party lines; the Senate's vote by left very little room to spare. more ›

Facing a state budget deficit that could reach as high as $15 billion and with no easy answers to settle it, Gov. Quinn and the State Legislature head into the fall-veto session with different agendas on how to plug the gap. more ›

As Illinois's political leadership struggles to close a daunting hole in the state's budget, the debate over raising taxes versus cutting services brought the governor and legislative leaders to a near standstill. The Center on Budget and Policy Priorities posted an interesting analysis of how different states are coping with decreased revenues in the ongoing economic crisis. They found that many states are looking at a combination of both spending cuts and tax increases to balance state budgets. According to their research, 23 states have raised taxes since the beginning of 2009, and 13 more states are considering tax increases. more ›

Happy Birthday, Mom! more ›