Illinois’s situation is considerably bleaker than California’s:
- Illinois has experienced net outmigration for the last 18 years.
- Those leaving Illinois are primarily of working age.
- Illinois has experienced a net decline of $47 billion in income adjusted for inflation in the state and a net decline of $8 billion in tax revenue.
- Illinois is now one of the highest-taxing states.
Judging by the states to which Illinoisans are moving, they are leaving Illinois because of Illinois’s slow economic growth, its high taxes, and its high cost of living (of which taxes are a factor). We will not change the trajectory of any of those by raising taxes.
Source: Illinois Policy Institute