A ranking of each state’s competitiveness and economic outlook places Illinois near the bottom.
The American Legislative Exchange Council’s “Rich States, Poor States” report ranked Illinois 47th in the country based on 15 factors, such as income tax rates, property tax burden and debt service as a share of tax revenue.
“Generally speaking, states that spend less, especially on income transfer programs, and states that tax less experience higher growth rates than states that tax and spend more,” according to the report.
Author(s): Kevin Bessler
Publication Date: 13 May 2021
Publication Site: The Center Square