by Conor Durkin When politicians lose interest in reform, taxpayers “lose interest,” too. Last week Gov. Quinn’s special legislative session failed to pass a bill dealing with Illinois’ pension problems. Yet even if any measure had passed, Illinois’ massive problems would persist. The proposals debated in Springfield were far too small to make a visible...
As John Tillman noted yesterday, the last few days have been full of political melodrama as the Illinois General Assembly holds a special session that is unlikely to do more than pass a sliver of a reform — if they can even muster that. But I’d like to call attention to the role that AFSCME is...
By a vote 100-6 State Rep. Derrick Smith (D-Chicago) has been expelled from the Illinois House of Representatives.
While they only managed to pass an amendment, the House provided some memorable quotes.
Illinois’ state pension systems are barreling towards insolvency. Without a complete pension overhaul, Illinois’ five pension systems may reach their breaking point. There is only one way to prevent a collapse. Illinois must shift from defined benefit (DB) to defined contribution (DC) plans. In a DB plan, an employer pays fixed, regular pension payments over a...
The spectacle of government union members booing the best friend they ever had off the stage Wednesday at the Illinois State Fair made for entertaining video. Gov. Quinn may not have liked the boos, but he certainly understands his starring role in this fiction of a drama. Here’s the truth: the pension proposals under consideration in Springfield...
THE PROBLEM Illinois reports that it owes $83 billion to its five public pension funds. That amount represents the chronic failure of the state to fully fund its pension systems, overly generous retirement benefits for state workers, and the inability of those funds to meet their investment targets. Unfortunately, this $83 billion figure grossly understates...
Lawmakers will return to Springfield for special session Friday to consider a woefully inadequate fix to the state’s pension system. On Tuesday, the Chicago Sun-Times published comments about the pension mess from Chicago Mayor Rahm Emanuel: “If we do nothing throughout … our five funds, we have to raise property taxes 150 percent, and I will...
When Rhode Island saw the writing on the wall late last year, its legislature did something no one thought it could do. It passed the boldest pension reforms in the nation. A democrat-controlled state, with the second-worst funded pension system in the nation, passed a series of reforms that cut the state’s unfunded liabilities by...
Chicago has the worst entrepreneurship rate among the 15 largest metropolitan areas in the country.
Ever since the Village of Willowbrook’s participation in the Illinois Policy Institute’s Local Transparency Project, the Mayor and Board of Trustees have been interested in ways of furthering the Village’s transparency efforts.” – Garrett Hummel, Management Analyst, Village of Willowbrook. The Village of Willowbrook previously earned a transparency award from the Illinois Policy Institute for scoring an...
Only when our government leaders emphasize the importance of transparency in all they do will taxpayers truly benefit.
Just over the past five years, 71 cents from every new dollar set aside by state government for Pk-12 education went to teacher retirement costs.
As the graphic shows, the rate of entrepreneurship in Illinois has been below the national average every year since 1996 except for 2001. The Kauffman Foundation entrepreneurship index measures the percentage of adults ages 20 to 64 that start a new business each month and work 15 or more hours per week. It’s measured across all 50...