Fiscal and Economic Issues Illinois

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Presentation transcript:

Fiscal and Economic Issues Illinois July 2018 Meeting 1 1

At the state level, Illinois’ spending in 2016 was not high compared to other states https://www.kff.org/other/state-indicator/per-capita-state-spending/ Notes Data are for state fiscal year 2016 and include general fund, federal funds, other state funds, and bonds. Sources KCMU calculations based on adjusted data collected in the National Association of State Budget Officers (NASBO) http://www.nasbo.org/mainsite/reports-data/state-expenditure-report, November 2016; and the U.S. Census Bureau http://www.census.gov/data/datasets/2016/demo/popest/state-total.html 2

Illinois State and Local Spending is Slightly Above Average Source: https://www.taxpolicycenter.org/statistics/state-and-local-general-expenditures-capita 3

Illinois has high property taxes, but that is NOT a state government issue 4

Most States have Regressive State and Local Taxes 5

Illinois has the 5th most regressive state and local tax structure in the country (2015) 6

Illinois Unpaid General Funds Bills 7

Jobs in Illinois (Non-Farm / 000’s) 8

Illinois Job Growth - Fiscal Years 2009 – 2018 (ytd thru May) (in thousands) -323.8 2010 -31.4 2011 60.8 2012 76 2013 52.4 2014 81.6 2015 93.1 2016 29.6 2017 64.5 2018 (ytd) 41.1 9