Free-photos/Pixabay
Free-photos/Pixabay
The past few years, Illinois lawmakers have talked about passing reforms that would get state spending under control while simultaneously easing the regulatory burden on small businesses. Sadly, we’ve yet to see any evidence of helpful changes despite inflation and COVID wreaking havoc on our bottom lines.
Frankly, it’s hard to comprehend why state lawmakers aren’t doing more to help those they often claim are the “backbone” of our state’s economy.
Illinois’ economy is undoubtedly struggling, and every new tax or regulation only helps neighboring states in their appeal to snatch away our entrepreneurs and their families. The number of small businesses in Illinois has been steadily declining for years, and the trend is likely to continue unless we can find a way to make doing business more affordable.
I think a good place to start is easing some of the stacked costs that hamper commerce for those of us operating below the conglomerate-level of the economy. This also includes the high costs of protecting ourselves from frivolous lawsuits that threaten our livelihoods and cause prices to climb even higher.
We have some of the nation's highest and most complex taxes, and all those mandatory fees make it difficult to remain profitable or even hire new employees.
Illinois needs a tax system that’s friendly to small businesses, and by reducing those so-called “stacked costs,” it’ll make it easier for us to thrive and create a prosperous economy.
Loretta Kavaliunas is the owner of Awesome Campaigns.