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Multistate Tax Update — February 4, 2016

Illinois: State of the state speech contains many proposals, none for tax changes

In Governor Bruce Rauner’s January 27, 2016, address, he acknowledged his government’s goal “to improve the quality of life for ALL the people of Illinois,” which means more economic opportunity, higher pay and a lower cost of living.
Lamenting the fact that jobs and people are leaving the state, the Governor conceded that despite the fact that Illinois is a “wonderful place,” it has:
  • Fewer jobs today than it did 15 years ago;
  • The average working family is making less now than they were eight years ago;
  • Is “virtually tied for the highest property taxes in America;” and
  • Has “far more layers of government and mountains of debt at every level.”