More scrutiny from property owners means more money in the pockets of certain members of Illinois’ political elite, including House Speaker Mike Madigan.
A taxpayer bill of rights would put checks on politicians eager to hike taxes in one of the nation’s most over-taxed cities.
The stopgap budget passed by the General Assembly provides six months worth of funding for government services such as road construction, as well as a full K-12 education budget for the 2016-2017 school year, property-tax-raising authority for Chicago, and more state funding of pensions for Chicago Public Schools teachers.
The stopgap budget compromise reached between the General Assembly and Gov. Bruce Rauner will fund government operations for the next six months and ensure that schools open on time in the fall.
Illinoisans face the highest median property-tax rate in the nation.
Until CPS passes necessary spending and pension reforms, giving any additional money to the system will only reward officials’ mismanagement and reckless behavior.
Budget gridlock in Springfield caused the Illinois secretary of state’s office to suspend mailing vehicle-registration-renewal reminders in October 2015; as a result, the state took in $5.24 million more in fees for late license-plate renewal between January and June 21, 2016, than it did during the same period in 2015.
Tax-hike proponents claim there’s no way to fix Illinois’ chronic budget problems without more money. They want Illinoisans to believe the state’s tax revenues simply aren’t enough to cover the cost of government. But tax revenues aren’t the real problem. Illinois’ perennial budget crises stem from the state’s persistent overspending and misplaced spending priorities. The...
Pension funds aren’t immune to the volatility of the stock market. Even before Brexit, Moody’s warned that low investment returns are already putting Chicago’s pension funds at risk. A major stock market correction or another recession just might put Chicago and CPS over the edge if their already-underfunded pension systems collapse.
The pension problem was created and has been fueled by weak politicians – men and women who decided their next elections were more important than the next generation.
Illinois House Speaker Mike Madigan’s insistence that Chicago Public Schools receive more than its fair share of state education funding is putting any stopgap budget deal at risk.
A representative from the state-worker union called for collective action from governments of prison towns to force Gov. Bruce Rauner’s hand in the budget debate, which could expose thousands of incarcerated Illinoisans to squalid, dangerous conditions.
If Springfield politicians do not pass a budget by June 30, the state will be forced to stop payments to winning lottery ticket holders, Illinois’ comptroller has warned.
Madigan’s record $40 billion spending proposal and its $7 billion deficit revealed he was never serious about reaching a budget deal with Rauner. Instead it was nothing more than an attempt to create a deeper fiscal crisis, force additional tax hikes and create a bailout for the city of Chicago. As long as Madigan and other lawmakers keep prioritizing politics over people, Illinois will continue its downward spiral.