The cost of bad behavior: Illinois penalty borrowing rate
The cost of bad behavior: Illinois penalty borrowing rate
The price of Illinois bad behavior continues to go up.
Institute on WJPF Radio: Tom Miller and John Tillman discuss pension reform
Institute on WJPF Radio: Tom Miller and John Tillman discuss pension reform
Illinois Policy Institute CEO John Tillman joined Tom Miller on WJPF Radio to discuss pension reform in Illinois.
Lessons from Puerto Rico: the problem with big pension debts and little solutions
Lessons from Puerto Rico: the problem with big pension debts and little solutions
Too bad Puerto Rico isnt a state. If it were, Puerto Rico, and not Illinois, would have the nations worst-funded pension system and the countrys worst credit rating.
IEA holds training sessions to increase taxes on teachers?
IEA holds training sessions to increase taxes on teachers?
The Illinois Education Association, or IEA, is training its members to advocate for a plan that, ironically, increases taxes on teachers.
Institute in Chicago Tribune: Amazon tax an Illinois disaster
Institute in Chicago Tribune: Amazon tax an Illinois disaster
To tax-hungry politicians, the Internet is like California in 1849 a vast expanse of untapped wealth.
The Stockton crystal ball: what a pension guarantee will do to Illinois
The Stockton crystal ball: what a pension guarantee will do to Illinois
With nearly 300,000 residents, Stockton is the largest city in the United States to declare bankruptcy. It is also one of several California cities to file for bankruptcy due to the recession and skyrocketing government worker pension costs.
Institute in Chicago Tribune: Modernizing Illinois’ tax system
Institute in Chicago Tribune: Modernizing Illinois’ tax system
The Chicago Tribune published the following letter to the editor from the Institute's senior budget and tax analyst, Ben VanMetre.
137 tax increases proposed in 62 Illinois counties
137 tax increases proposed in 62 Illinois counties
AFP-Illinois, the Illinois chapter of Americans for Prosperity, is gearing up for the April 9 consolidated local elections. The group recently launched a new website designed to inform Illinois residents of local referendums that could cause their taxes to go up and are urging people to fight local tax hikes. In a recent newsletter announcing the initiative for...
Pension ramp leaves taxpayers without an exit
Pension ramp leaves taxpayers without an exit
On March 11, 2013, the Securities and Exchange Commission charged Illinois with securities fraud. The SEC accused the state of misleading investors by understating the depth of the pension crisis. The most revealing statement from the SEC: “The statutory plan structurally underfunded the state’s pension obligations and backloaded the majority of pension contributions far into...
SEC charges Illinois with securities fraud
SEC charges Illinois with securities fraud
[updated 3.15.13] Illinois politicians are not honest about the depth of the state’s pension crisis. They chronically understate the scale of the problem to taxpayers and state workers. According to the federal Securities and Exchange Commission, the state has misled investors as well. Today the SEC announced it was charging Illinois with securities fraud. From a...
HB 3411 makes Illinois’ already-broken pension system worse
HB 3411 makes Illinois’ already-broken pension system worse
HB 3411 known as Cross-Nekritz – the latest iteration of Nekritz-Biss – paints over Illinois’ pension crisis with more of the same broken policies that have pushed government retirement systems to the edge of collapse. This bill: Perpetuates unstable, unpredictable and unmanageable defined benefit systems – The key driver of Illinois’ pension crisis is the state’s defined...
The budget truths behind Quinn’s ‘honest’ budget address
The budget truths behind Quinn’s ‘honest’ budget address
Some of the tone of Illinois Gov. Pat Quinn’s rhetoric was a move in the right direction during his budget address; but his strategy and plan for execution didn’t match. While painting an optimistic picture of what he has achieved during his tenure, Quinn outlined what he called an “honest” and “balanced” budget for fiscal...
The sequester: a small a step in the right direction
The sequester: a small a step in the right direction
“Illinois will lose approximately $33.4 million in funding for primary and secondary education, putting around 460 teacher and aide jobs at risk.” “Up to 1,100 disadvantaged and vulnerable children could lose access to child care.” “Illinois would lose approximately $764,000 in funds that provide meals for seniors.” “Vital services will be cut for children, seniors,...
Cook County cigarette tax hike takes effect today
Cook County cigarette tax hike takes effect today
Health nuts and anti-tobacco fanatics, get out your streamers and champagne: Cook County’s new $1 per pack cigarette tax hike goes into effect today. Contrary to the so-called health conscious intentions of this tax’s creators, however, Cook County smokers will continue to buy cigarettes. Lots of them. Last year, Cook County brought in approximately $115 million...