Corri McFadden is betting on Illinois
Corri McFadden is betting on Illinois
When Corri McFadden thinks about the future and growing her business, it always includes Illinois.
Will Illinois legislators break their promise to reduce taxes?
Will Illinois legislators break their promise to reduce taxes?
by Ted Dabrowski and Paul Schumacher In 2011, when Illinois legislators passed the largest income tax increase in the state’s history, they promised to roll back the increase beginning in 2015. “We have some temporary tax increases that are designed to pay our bills, get Illinois back on fiscal sound footing and make sure that our state...
Budget Rush — Haste makes waste, and secrecy makes more waste
Budget Rush — Haste makes waste, and secrecy makes more waste
by Paul Kersey So, here we are again, scrambling at the last minute to evaluate a complex document that accounts for billions of dollars of state employee wages. In March of this year it was the tentative agreement between Gov. Quinn and the American Federation of State, County and Municipal Employees Council 31. The challenge...
The truth behind Illinois’ FY 2014 budget: broken promises and future tax hikes
The truth behind Illinois’ FY 2014 budget: broken promises and future tax hikes
The Illinois General Assembly increased spending to more than $35.4 billion, up approximately $2 billion from what was approved for the current fiscal year. The budget handouts being passed around the Statehouse describe this as an “honest budget,” the same language Gov. Pat Quinn used when he proposed his version of a budget back in March....
Illinois’ FY 2014 budget: chock-full of waste
Illinois’ FY 2014 budget: chock-full of waste
by Ben VanMetre A few years ago there was a popular narrative in Illinois politics about going through the budget line by line and eliminating wasteful spending. Those efforts, of course, never moved forward, and the narrative is dead. That’s a common theme in Springfield, where lawmakers make promises they don’t intend to keep. It...
New bill would take cap on registration fees for electric vehicles from $17.50 a year to $222
New bill would take cap on registration fees for electric vehicles from $17.50 a year to $222
by Kristina Rasmussen House Bill 3637 introduced by state Rep. Barbara Flynn Curre would take the cap on registration fees for electric vehicles from $17.50 a year to $222 — 1168% increase!
Illinois lawmakers hid ObamaCare-related Medicaid spending
Illinois lawmakers hid ObamaCare-related Medicaid spending
If you’re not already disgusted by the budget implementation bill that passed today (shrubbery, Amtrak, grant unaccountability), try this on for size. The General Assembly hid ObamaCare-related Medicaid spending so that it doesn’t show up in the General Revenue Fund budget. A budget amendment hides “all federal matching funds” received to pay Medicaid costs for “individuals eligible for medical...
Capitol Updates: May 31
Capitol Updates: May 31
Health care On Memorial Day, the Illinois General Assembly passed Senate Bill 26, which drastically expands the state’s Medicaid program and is one of the key provisions of implementing ObamaCare. During yesterday’s Senate floor debate, state Sen. Heather Steans, D-Chicago, presented the bill that appropriates the funds for fiscal year 2014’s human services budget. Steans admitted that the...
Moody’s warns Illinois credit rating could fall without pension reform
Moody’s warns Illinois credit rating could fall without pension reform
In what’s become a habit for Moody’s Investors Service, the credit rating agency warned today that Illinois faces more credit downgrades if it fails once again to reform its state-run pension systems. The state already has the lowest credit rating in the nation. This means Illinois pays more to borrow money than any other state. But what’s...
The SB 1687 cost shift doesn’t go far enough
The SB 1687 cost shift doesn’t go far enough
A “cost shift” pension plan was introduced today, Senate Bill 1687 Amendment #2, for the State Universities Retirement System, or SURS. Here are the ins and outs of the plan: What the cost shift does: A significant driver of Illinois’ $97 billion pension crisis is the fact that the state makes pension contributions to SURS...
ObamaCare: if it’s not good enough for Congress, it’s not good enough for Illinois
ObamaCare: if it’s not good enough for Congress, it’s not good enough for Illinois
by Diane Cohen Under a 2010 amendment to the Patient Protection and Affordable Care Act, or PPACA, authored by U.S. Sen. Charles Grassley, R-Iowa, congressional leaders and their staffers are required to purchase health insurance from an ObamaCare exchange. Turns out Congress is having second thoughts. With the individual mandate set to take effect on...
Where there’s a government union, there’s bound to be big government debt
Where there’s a government union, there’s bound to be big government debt
by Paul Kersey So what exactly do government worker unions do? Along with negotiating contracts and lobbying politicians, they help create loads of debt. The Massachusetts-based Beacon Hill Institute has done some sophisticated analysis of state-level economic performance, and the results indicate that government unions tend to go hand in hand with high government debt....
Cullerton’s pension plan full of flawed logic
Cullerton’s pension plan full of flawed logic
A union coalition opposed to pension reform is arguing that a plan advanced by Senate President John Cullerton would save $26 billion more in retiree health care coverage costs than a plan backed by House Speaker Michael Madigan. From the Associated Press: A study by the We Are One Illinois coalition shows that if half of...
Clock is ticking in Springfield
Clock is ticking in Springfield
There are four days of legislative session remaining, during which time state lawmakers will debate many important issues that affect taxpayers in the state of Illinois. Here is what you need to know going into the last week of session. No budget … yet At this point in session, a state budget proposal is usually...