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Illinois Tax Avoiders


We hear constantly about our state's budget problems, the pension woes, the school cutbacks, the need for austerity measures. But Illinois lost nearly a billion dollars in 2014 tax revenue to just six companies (Boeing, Archer Daniels, Walgreen's, Caterpillar, Exelon, Abbott Labs), which according to their own records paid just 1.9% of their profits in state taxes, about a quarter of the required amount.


Overall, weve been losing up to $4 billion per year in unpaid state taxes.


Yet its the children and the taxpayers of Illinois who bear the burden of reform. Illinois cut education spending by a greater percentage than any other state in 2012, and in 2013 it was third-worst in cuts per student. And our system of taxes hits low-income families the hardest. The Institute on Taxation and Economic Policy named us one of the ten "Most Regressive State Tax Systems," with the third-highest "Taxes on the Poor."


Most recently, Mayor Emanuel announced another $200 million in education cuts and then raised property taxes by a half-billion dollars. But no mention of the tax avoiders.


Illinois Details Here