Illinois Exodus Continues: Economic issues force residents out

Residents continue pouring out of Illinois as taxes rise and the economy stagnates in the state.

In 2016, Illinois lost 37,508 residents bringing the state population to it’s lowest in a decade. With Illinois still failing to agree on a budget, senators have passed a spending bill that increases income taxes by 32% while property taxes rise and wages stagnate according to the Illinois Department of Revenue.
Along with rising income and property taxes, a new “Soda Tax” has been implemented in Cook County as well.

The unending tax hikes, poor economic growth, and stagnating wages are driving out young college graduates and prime working-age workers to leave the state in search of jobs else-where. In contrast, Illinois’s neighbor Indiana is retaining their prime-age workers because Indiana’s economy continues to grow to support their Indiana-natives.

As Illinois continues to make attempts to generate more tax money, tax-payers will continue to flee the state. Only an immediate budget solution and business-friendly tax reform can fix this problem.