Starting today, you’re working for yourself.
This is Tax Freedom Day for Illinois, according to the Tax Foundation – the day upon which your tax burden is paid off. For the rest of the year, you’re working to fulfill other obligations.
Republican U.S. Senate candidate Jim Oberweis wishes the day were sooner. “I wouldn’t go for Jan. 3, but something in March would be refreshing for a change,” he said.
Oberweis says taxes thwart economic development. “If we want to improve the economic environment, we ought to be looking at exactly the opposite – that is, can we cut taxes? Where can we reduce those costs so that businesses want to come here?” he said.
Tax Freedom Day in Illinois is a week behind the national average. Illinois is the 43rd state to reach Tax Freedom Day. One reason is that Illinoisans have relatively high incomes.