Two-year anniversary of 2011 tax hike nothing to celebrate
Two-year anniversary of 2011 tax hike nothing to celebrate
Two years ago, the average family started forking over an additional $1,500 from their annual pay due to higher taxes.
Fitch warnings don’t mean kick the can down the road
Fitch warnings don’t mean kick the can down the road
Illinois credit rating received a warning today from Fitch Ratings. What Fitch cited as the ongoing inability of the state to address its large and growing unfunded pension liability means a rating downgrade is likely unless reforms are passed within s
Nekritz-Biss pension funding guarantee would make pensions a priority over education, health care, public safety
Nekritz-Biss pension funding guarantee would make pensions a priority over education, health care, public safety
For years annual pension costs have been crowding out spending on education, health care and public safety. Now, Illinois legislators are looking to lock that in.
Pension Review Commission Act: Dangerous Abrogation of Power
Pension Review Commission Act: Dangerous Abrogation of Power
Major problems: Creates a super-legislature by delegating lawmaking to an un-elected Commission. Creates a pathway for Commission-directed tax hikes without a vote of the legislature. If either the House Speaker or the Senate President does not call a disapproval vote, the bill becomes law. The chamber heads are required to certify it unless a joint...
Institute on Chicago Tonight: Why pension talks aren’t real reform
Institute on Chicago Tonight: Why pension talks aren’t real reform
Illinois Policy Institute CEO John Tillman joined Carol Marin and a panel of experts on WTTW's Chicago Tonight to discuss pension reform in Illinois.
Institute on 1440 WROK’s Riley & Scot: John Tillman discusses tax hike and pension reform
Institute on 1440 WROK’s Riley & Scot: John Tillman discusses tax hike and pension reform
Riley & Scot talk with Illinois Policy Institute CEO, John Tillman, on IL taxpayers feeling the impact of Democrats' 67% income tax hike and the progress on pension reform talks.
Nekritz-Biss pension funding guarantee raises questions
Nekritz-Biss pension funding guarantee raises questions
A major component of the Nekritz-Biss pension proposal is a funding guarantee for pension payments. The proposal says:
Institute on ABC 7 News: Talks on Illinois pension crisis end without deal
Institute on ABC 7 News: Talks on Illinois pension crisis end without deal
Institute CEO John Tillman discusses pension reform
Institute on Politics Tonight: Ted Dabrowski talks pension reform
Institute on Politics Tonight: Ted Dabrowski talks pension reform
Institute Vice President of Policy Ted Dabrowski and Tribune reporter Ray Long joined Politics Tonight on Jan. 2 to discuss pension reform in Illinois.
Illinois can’t afford DCFS appropriation
Illinois can’t afford DCFS appropriation
Paul Kersey Director of Labor Reform A state with $9 billion in unpaid bills and at least $96 billion in unfunded pension obligations cannot afford to overpay for anything, even wages for child protection workers. So while some lawmakers may want to grant the Department of Children and Family Services, or DCFS, with a supplemental...
PRESS RELEASE: Illinois Policy Institute launches billboard campaign against new taxes, government waste
PRESS RELEASE: Illinois Policy Institute launches billboard campaign against new taxes, government waste
Billboard on I-55 urges state lawmakers on their drive to Springfield: "Read my lipstick: No new taxes"
Illinois already has a model for pension reform: self-managed retirement plans
Illinois already has a model for pension reform: self-managed retirement plans
Illinois' five public pension systems are broke. The systems are expected to pay out more than $600 billion between now and 2045, but have just $62 billion in the bank.
Where’s your pension fix, Gov. Quinn?
Where’s your pension fix, Gov. Quinn?
After four years in office, you have yet to provide a detailed proposal for how to reform the pension system. Oh, sure, there have been press releases and bullet-point presentations but nothing detailed enough to present to the Legislature as your solutio
The Illinois pension pot: the less you put in, the less you earn
The Illinois pension pot: the less you put in, the less you earn
Wouldn’t it be nice to earn 7 to 8 percent interest on money you don’t have in the bank? That’s exactly what caretakers of the state’s public pension systems assume. Illinois’ five pension systems are expected to pay out more than $600 billion between now and 2045. In order to pay for these benefits, the...