The problem Illinois is facing a fiscal crisis. The expense of retirement benefits is overwhelming many areas of the state budget. Lawmakers have known of this situation for years, but thus far have not adopted a comprehensive solution. The state faces an $85 billion unfunded liability to its pensions systems. It owes another $45 billion...
A fresh start with the right priorities.
The Institute's Pensions vs. schools: Higher education report was featured in Crain's Chicago Business.
The problem Illinois is facing a fiscal crisis. The expense of retirement benefits is overwhelming many areas of the state budget. Lawmakers have known of this situation for years, but thus far have not adopted a comprehensive solution. The state faces an $85 billion unfunded liability to its pensions systems. It owes another $45 billion...
Gov. Quinn and the unions are still bickering over money for state raises, but the contract had called for two raises at the start of 2012.
by Kristina Rasmussen Jim Lacey provides a much-needed new perspective on Ebenezer Scrooge over at NRO: More than anything else, Scrooge’s investments created jobs. A man with the wealth Dickens implies Scrooge possesses was probably making investments that employed many thousands of workers. History tells us that these “men of business” also reaped most of the rewards....
by Mark Cavers This article, along with other original stories, first appeared in the Institute’s quarterly magazine, the Compass. The Illinois Policy Institute released a report in November exposing how the state was removing salary information from its designated transparency website. We are happy to announce that the state has returned the information to the portal. The state...
by Brian Costin According to the Illinois State Constitution,“In the year following each Federal decennial census year, the General Assembly by law shall redistrict the Legislative Districts and the Representative Districts.” The redistricting process in Illinois has always been a hyper-political process subject to vast criticism, and this year’s redistricting process is no exception. However, the Illinois...
by Kristina Rasmussen Illinois has trouble. Big trouble. Our public pension system is one market crash away from disaster. Our unemployment numbers are over 10 percent. People are hightailing it for greener pastures. You’d think Illinois legislators would focus on turning this state around with bold reforms. Think again. Even as the Illinois General Assembly failed to address the pension crisis,...
by Kristina Rasmussen U.S. Sen. Dick Durbin (D) is hitting the media circuit raising concerns about stalled efforts to extend a temporary payroll tax holiday, warning that without action Illinois families will see their paychecks shrink: “A hundred and sixty million workers across America, 12 days from now, will see their payroll tax go up,” said Senator...
by Amanda Griffin-Johnson Earlier this week, U.S. Sen. Tom Coburn, R-Okla., released Wastebook 2011, a report covering 100 examples of wasteful government spending. The examples range from millions of dollars to just a few thousand dollars, but all highlight how government uses taxpayer money to fund unnecessary projects, often not relating at all the to core purposes...
The Elgin City Council plans to vote tonight on a new budget that increases taxes and adds new fees. The Council has chosen to pursue new revenue sources to fill a $4.5 million deficit, rather than run a more efficient government. This strategy of higher taxes only compounds the problems that average Illinoisans and residents of Elgin...
by Ted Dabrowski Illinois is bleeding people to almost every state in the nation. People are packing up and voting with their feet. Gone – goodbye. When people leave, they don’t just take their belongings. With them go their earnings, their spending power and their contribution to society. When they own companies, they even take the...
by Kristina Rasmussen A letter writer to the State-Journal Register nails it: One of the things I’ve noticed in past exposure to politicians is that they are not dumb people. In fact, most are quite intelligent. The recent tax breaks for several Illinois employers is proof of that. When legislators approved a large tax hike a few months...