Dupage Policy Journal

State Rep. Amy Grant (R-Wheaton) shared a recent study that has found that Illinois’ economy is doing worse than those of its neighboring states. 

According to a report from The Center Square, Illinois ranks 32nd overall, falling behind most of the other states in the Midwest. 

“Illinois’ economy has fallen behind the rest of the Midwestern states,” Grant said in a statement. “We can close this gap, but in order to do so, we must pass legislation that promotes investment, encourages innovation and helps make life affordable for all of Illinois’ residents.”

While Michigan, Minnesota and Iowa all placed in the top 20 and Wisconsin came in at 27, Illinois was off the pace in the data, which examined 30 different factors, including economic growth, GDP growth and startup activity, according to The Center Square.

Moreover, Illinois Policy reported that a WalletHub report found that the tax burden in Illinois is the highest in the nation, with households in the state pay $9,488 in taxes annually, 39% above the national average. The report also noted that the state is burdened with the largest pension debt in the nation, meaning a lot of the money generated through taxes is earmarked for the debt. 

Statista noted that three years ago, Illinois had the fourth highest outstanding government debt in the nation, at $165.1 billion, trailing only California, New York and Texas. Moreover, the report noted that 44 states and Washington, D.C. have debts below $100 billion. Forbes noted that a government saddled with a ballooning debt can see inflation increase. The publication noted inflation also sows the seeds of uncertainty among investors, resulting in stalled economic growth.