The American Rescue Plan Act (ARPA), which passed in early 2021, provided critical immediate relief to millions of Americans who have experienced economic hardship due to the economic fallout of the COVID-10 global pandemic. Unfortunately, the U.S. Congress has failed to act upon any broader economic and policy changes outlined in President Biden’s Build Back […]
Executive Summary: The Biden Administration’s American Rescue Plan Act (ARP), passed in early 2021, is designed to respond to the immediate economic needs of the millions of Americans who have been impacted by the economic fallout of the COVID-19 pandemic. This report considers one aspect of the ARP: the expansion of the Child Tax Credit […]
The Project for Middle Class Renewal investigated ways to flatten the growth property of taxes in Illinois. The report discusses the present situation in Illinois, the regressive nature of property taxes as a form of public revenue, and the importance of property taxes for k-12 public education. Local schools are responsible for about two-thirds of […]
Investing in higher education is a smart economic development policy that boosts incomes, supports employment, and grows the economy. Illinois has world-class public universities and community colleges that serve as economic engines in local communities. The recent budget crisis in Illinois, however, had negative impacts on public universities and community colleges in the state. This […]
Illinois needs to revamp its system of funding public education. Currently, school districts receive the bulk of their revenue from property taxes. With relatively high property tax rates and funding inequities across the state, raising property taxes in Illinois is often not an option for school districts. There are alternative policies that can be enacted […]
Governments utilize policies to impact the efficiency of labor markets. These policies are designed to increase employment by encouraging people to look for work, make it easier for people to get to work, provide support for people who are working, create opportunities for employment, and help people become qualified to work. This report, conducted by […]
PERPETUAL STATE BUDGET DEFICITS and mounting debt have re-ignited claims that repeal of Illinois’ prevailing wage provisions will cut public construction costs and save taxpayers money. Critics of prevailing wage laws (PWLs) assert they inflate the costs of government contracts by compensating labor at levels higher than market wages. Contrary to opponents’ claims, findings from […]
For the past three decades, tax increment financing (TIF) has been the primary public financing tool used by the City of Chicago to spur local economic development. During this time period, TIF advocates and opponents alike have attempted to understand TIF’s impact on taxing jurisdictions that overlap TIF district boundaries. Interested parties have raised important […]