During a lame duck session two years ago, the Illinois General Assembly passed a 67 percent income tax increase on all Illinois families. When the bill was filed in early 2011, almost no one knew of its existence.
PRESS RELEASE from the ILLINOIS POLICY INSTITUTE MEDIA CONTACT: Diana Rickert Diana@IllinoisPolicy.org or (312) 607-4977 Illinois Policy Institute statement on pensions: Real reform means adopting 401(k)-style plan SPRINGFIELD, Ill. (Jan. 6, 2013) The Illinois Policy Institute released the following statement from CEO John Tillman regarding pension reform talks: “Illinois can be an economic...
Just call it an opening skirmish in what portends to be a protracted conflict.
This morning Illinois was forced to delay a $500 million bond sale essentially, borrowing $500 million to finance state government operations. The delay was due to a drop in lender confidence in Illinois credit worthiness.
Standard and Poors Rating Services just dropped Illinois credit rating to A- from A. There is not another state in the union with credit as lousy as ours. We are worse off than California.
Over the weekend, the Peoria Journal Star published a letter to the editor from an elementary school principal in downstate Illinois.
Institute policy expert, Jonathan Ingram, joined Doug Wolfe on WAND TV to discuss Illinois’ addiction to wasteful spending. Check our Piglet 2012 for examples of pork in Illinois. MUSEUM CAPITAL PROJECTS ABRAHAM LINCOLN MEMORIAL GARDEN FOUNDATION, INC. (Sangamon County) – $82,433. Renovation of the Ostermeir Farmhouse to add handicap accessible features, waterproof basement, replace carpet,...
On Jan. 25, Standard & Poor's Ratings Services downgraded Illinois' credit to A- from A.
The Institute’s Vice President of Policy, Ted Dabrowski, joined Varney & Co. on Fox Business to discuss the S&P’s latest downgrade of Illinois’ credit to A-Minus the eleventh credit downgrade since Gov. Quinn assumed office in 2009.
Daily Herald published the following opinion piece by the Institute’s Vice President of Policy, Ted Dabrowski: Many civic groups are calling for the legislature to do something ? anything ? on pension reform. That’s fool’s advice. Instead, they should call on lawmakers to do the right thing. That means a defined contribution system. It’s the...
State law doesnt allow for the lawmaker, who entered the upper chamber in 2008, to drop out of the system.
Illinois has a spending problem. Spending per capita has grown nearly three times faster than it would have under a responsible spending limit one tied to the growth of inflation and population.
In the aftermath of this months scramble to pass something anything that politicians could call pension reform, heres the most important reason why taxpayers should be grateful the Nekritz-Biss plan was shelved: the funding guarantee.
Illinois Policy Institute Executive Vice President, Kristina Rasmussen, appeared on ABC 20 to discuss the Auditor General’s report, which found that Illinois’ unfunded pension liability grew nearly $12 billion in fiscal year 2012. The unfunded liability in the state’s retirement systems has ballooned by nearly $12 billion in the last budget year. That’s according to...