Springfield, IL. – Two reports released this week demonstrate Illinois’ need to enact critical reforms in order to improve the state’s financial footing, the Illinois Department of Transportation wants to help motorists get around Illinois, and Route 66 makes the endangered landmark list.
Reports highlight need for reforms
A report issued by the Anderson Economic Group, and reported on by Crain’s Chicago Business this week, highlights Illinois’ ranking among Midwestern states when it comes to tax rates paid by businesses.
In Illinois, businesses paid a rate of 9.4 percent, which is the highest among other Midwest neighboring states, such as Indiana (7 percent), Missouri (7 percent), Ohio (7.3 percent), Michigan (8 percent) and Wisconsin (8.7 percent). Also, according to the report, “Illinois public utilities and income taxes were relatively high.”
It was also announced this week that, according to The Pew Charitable Trusts, Illinois’ unfunded pension liability accounts for 10 percent of the nation’s total pension debt.
The total unfunded pension liability for the United States was $1.1 trillion in 2015. That same year, Illinois’ unfunded liability was $111.55 billion, making it 10 percent of the nation’s total pension debt.
What these reports demonstrate is exactly what State Senator Dave Syverson (R-Rockford) has been voicing for years. Illinois needs to enact common-sense structural reforms, such as pension reform and property tax relief, in order to enact a full-year, balanced budget that will provide a strong fiscal foundation for future budget planning, while at the same time making Illinois attractive to employers.
Getting around Illinois
The Illinois Department of Transportation (IDOT) has updated their “Getting Around Illinois” website, which is a web-based interactive mapping site that provides visitors with the ability to search and display several sources of transportation data.
Those who visit the site can find information on road construction locations, trucking routes, and winter road conditions.
Begin planning your trip today by visiting https://gettingaroundillinois.com.
Get your kicks on Route 66
Route 66, the famous stretch of highway connecting Chicago to southern California, has been placed on this year’s “Most Endangered Historic Places” list by Landmarks Illinois.
Since 1995, Landmarks Illinois has asked preservationists, community leaders and concerned citizens throughout the state to nominate threatened or endangered historic properties for its annual list, the Most Endangered Historic Places in Illinois.
The purpose of the list is to focus attention on sites threatened by deterioration, lack of maintenance, insufficient funds, or inappropriate development, as well as bolster local advocacy efforts and build support for each property’s eventual preservation. The Most Endangered Historic Places in Illinois list also draws attention to important policy issues that affect these properties and historic properties throughout the state.