IRS data shows state’s outmigration losses at more than $310 billion, Wirepoints reports
A new Wirepoints analysis of Internal Revenue Service data concludes that Illinois’ ongoing outmigration crisis has caused the state at least $310 billion in adjusted gross income since the start of the new millennium.
By comparison, Florida gained nearly $1 trillion in adjusted gross income over the same period while Texas added $250 billion, with researchers noting that much of those gains came at Illinois’ expense.
As a result, state Rep. Dan Ugaste (R-Geneva) is imploring his fellow lawmakers to take a look in the mirror.
“Again, it’s part of not fixing the problems we have and doing what we need to be more efficient and better stewards of taxpayer money,” Ugaste told the Kane County Reporter. “When we lose people, we lose business and revenue. All the money we lose could pay down debt. Instead, Springfield’s answer has been just to tax more.”