Prairie State Wire

GOP gubernatorial candidate Darren Bailey is decrying Illinois' quickly sinking gross domestic product amid a teetering recession.

“Gross domestic product declined in Illinois along with 46 other states signaling the realistic possibility a recession is on the horizon,” Bailey said in a statement. “The 2.5 percent GDP decline in the first quarter in Illinois is higher than the average 1.6 percent decline nationally. While states like Texas and Florida have been lowering taxes and creating a better business climate, the only thing JB Pritzker is offering is a commitment to be the wokest state in the country. The truth is companies want to locate where taxes are low and where there is a level playing field for all businesses not just the politically connected ones.”

A "meaningful action" is what the state needs, according to Bailey. He added that better policies are also needed "which can only come with a change in leadership.”

“Being woke is not an economic plan but unfortunately it is all JB Pritzker has to offer," he said. "As Governor, I will work to ensure state government agencies are more responsive to prospective businesses wanting to locate here and I will reduce business regulations and lower taxes to bring new jobs and new opportunities to Illinois. There is little Illinois can do to prevent a recession but there is a lot our state can do to minimize the effects of a recession on our state. Having a robust economy would help minimize the impact of a recession on our state’s economy but to get to that point, we need more than the far left talking points coming from JB Pritzker." 

Bailey has vowed support employment growth in Illinois by bringing in new businesses, reopening the economy, and improving schools.

A recession appears to be looming as the gross domestic product — an indicator of economic activity and quantifies the cost of goods and services — in 47 states, Illinois included, is on the decline. "Nondurable goods manufacturing, retail trade, and finance and insurance decreased 17%, 10.2%, and 7.1% respectively for the nation and were the leading contributors to the decrease in real GDP. According to reports from The Bureau of Economic Analysis, these three industries contributed decreases in all 50 states," the Center Square reported. Illinois' GDP fell by 2.5% in the first quarter of 2022, more than any other Midwestern state. The country as a whole had a decline of 1.6%.

Bailey has highlighted the effect Illinois has on gas tax rates has had on the economy. Illinois has the second-highest gas taxes in the nation, and its taxes are significantly higher than those in neighboring states. In some areas of the state, Illinois drivers spend nearly $1 per gallon in taxes alone. Bailey has advocated abolishing the sales tax on gasoline. "Working families are hurting thanks to these tax increases. We need to recognize what the problem is, and we need to take action and we need to do it now," Bailey previously said.