Only Mississippi has fared worse than Illinois in personal income growth since the Great Recession hit at the end of 2007. Analysis shows state income taxes matter.
Recovery from the Great Recession has been uneven among U.S. states, but Illinois has especially struggled, according to a recent analysis from The Pew Charitable Trusts.
Illinois underperformed every state except for Mississippi in growth of personal income. The U.S. average was a 2.1% inflation-adjusted compound average annual growth rate since the recession, but Illinois averaged only 1.1% a year.
