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Saturday, September 21, 2024

IRS data reveals significant exodus from Illinois due to high taxes

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State Senator Sue Rezin | Illinois General Assembly

State Senator Sue Rezin | Illinois General Assembly

New data from the Internal Revenue Service indicates that in 2022, over 87,000 Illinois residents relocated to other states. This movement resulted in nearly $10 billion in income leaving Illinois, significantly affecting the state's economic landscape. The City of Chicago has been identified as having the third-highest rate of domestic population loss in the country, highlighting a broader trend of outmigration.

Illinois' high tax burden has been a significant factor driving residents to seek more tax-friendly states. Governor J.B. Pritzker recently signed nearly $1 billion in tax hikes into law to fund spending on the migrant crisis, signaling that working families are unlikely to see meaningful tax cuts soon.

Senate Republicans argue that the continued high tax burden on working families and misplaced policy priorities are key contributors to the ongoing population decline. State Senator Sue Rezin stated that state leaders must recognize that current policies are driving residents away and focus on enacting genuine relief and reforms to help Illinoisans.

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