A study released this month by the Illinois Policy Institute found that repealing the state’s prevailing wage law would help boost the state’s economy by lowering the cost to taxpayers on publicly funded construction projects and spurring job growth in the construction industry.
In looking at states that repealed their prevailing wage law, the study found that employment in the construction sector grew by almost 8 percent. In the state of Illinois, that could translate to 14,000 new jobs in the construction industry over the next 10 years.
As one of the highest taxed states in the nation, Illinoisans would also see tax relief if the state’s outdated prevailing wage law is repealed. The study concluded that repeal of the prevailing wage law could save taxpayers an average of 10 percent on publicly funded construction projects.
Read the full study from the Illinois Policy Institute