Here is how the press release from the American Legislative Exchange Council begins:
Washington, D.C. – As states face their toughest budgetary climates in a generation, the authors of a new report by the American Legislative Exchange Council (ALEC) point out what states should do to alleviate the fiscal pain, and also what they should avoid. The third edition of Rich States, Poor States: ALEC-Laffer State Economic Competitiveness Index shows how many states responded to the economic crisis with higher taxes, new spending, and more debt. Instead of continuing down this road to a financial meltdown, the authors outline the steps states can take to bring about economic recovery.
“Many state legislators across America are taking the wrong actions to improve their economies,” said Indiana State Sen. Jim Buck, Chairman of ALEC’s Tax and Fiscal Policy Task Force. “As elected officials, we must be exceedingly vigilant to avoid tax increases, which would only prolong the current downturn for states.”
Co-author and renowned economist Dr. Arthur B. Laffer summarized the report’s findings when he said, “Tax and economic policies are essential to the competiveness of our states. Most actions being taken in state capitals today-and practically all actions from Washington, D.C. today-are flat-out wrong.”
We can all guess what is the case in Illinois. Here’s the top 5 and the bottom 5:
|TOP FIVE STATES||BOTTOM FIVE STATES|
4. South Dakota
48. New Jersey
50. New York
Click here for the report’s one-page summary of Illinois.
Click here to read the entire report.