Illinois’ property tax rates have skyrocketed since 2010. The average property tax rate as a percent of home value has soared from 1.93 percent in 2010 to 2.28 percent in 2012. This represents an 18 percent property tax rate increase in just two years. This rate spike is due to declining home values and local taxing bodies increasing property tax levies....
To paraphrase political humorist P.J. O’Rourke, “Giving the Obama administration control over one-sixth of the economy is like giving whiskey and car keys to teenage boys.” Last night provided yet another example of ObamaCare rollout chaos. The Obama administration announced that people who had their plans canceled by ObamaCare regulations (because they were inferior plans,...
Would you invest your mother’s money in municipal bonds? In a recent interview on Fox Business News, host Gerri Willis asked me that very question. It didn’t take me long to say I’d certainly do my homework first. Based on the growing number of city bankruptcies from Alabama to Rhode Island to California, it’s clear to me...
If navigating the ObamaCare website or filling out the applications weren’t challenging enough, some in Illinois and around the country are facing yet another challenge. USA Today reports that some people are being mistakenly enrolled into Medicaid. Not only are individuals improperly enrolled in Medicaid faced with the problem of canceling that enrollment, but they...
A new report looking at the state’s 25 largest municipalities shows a wide disparity in citizens’ access to basic government information online from community to community. In places such as Evanston, Skokie and Orland Park, citizens have excellent access to basic financial and participatory information online, but the same isn’t true in many other areas....
The Illinois Policy Institute introduced the only comprehensive pension reform plan during the 2013 legislative session. The Institute’s pension solution is the first plan that shifts Illinois workers out of the state’s broke defined benefit system and into a 401(k)-style plan, giving workers control and the pension system solvency. The introduction of this legislation has...
Archer Daniels Midland, an Illinois-based agribusiness giant, announced today that it will move the company’s global headquarters from Decatur, Ill., to Chicago, despite a tax incentive bill worth $30 million to ADM being stalled in the Illinois General Assembly. The decision keeps 60 to 75 executive-level jobs in Illinois, and comes a week after Office...
The same president who wanted gift registries filled with donations to his campaign and to infiltrate Thanksgiving dinner with an ObamaCare enrollment push is back at it again. This time, the Obama administration has added a mascot. And he wears a plaid onesie. Obama’s #GetTalking campaign aims to stir up conversations about ObamaCare and encourage...
Republican state Sens. Dale Righter and Patti Bellock accused the Quinn administration of cutting a “backroom deal” with the largest state employee union that will dismantle efforts to crack down on Medicaid fraud, according to the State Journal-Register. In 2012, the state hired a private vendor to help rein in out-of-control costs associated with Illinois’...
Michael Jordan paid nearly $200,000 in property taxes in 2012 on his Highland Park home. And now, he’s having trouble getting the property off his hands. Interested buyers had the opportunity to own the six-time NBA champion’s 56,000 square foot Highland Park home at auction on Monday – if they had $250,000 to throw down...
The U.S. Department of Health and Human Services has announced that 7,043 Illinoisans enrolled in the ObamaCare health insurance exchanges through the end of November. But about 185,000 policies in the individual market have been canceled or terminated as a result of ObamaCare. The new health care scheme may cost more than 175,000 Illinois individuals and families health insurance coverage come...
With winter nearly upon us, riding a bicycle in Chicago is probably the furthest thing from most people’s minds – except for the more than 1,000 people who’ve recently purchased a Divvy Groupon. Divvy is Chicago’s taxpayer-funded bike-share program, through which users can buy daily or annual memberships to rent one of more than 3,000 bicycles...
This week Illinois borrowed $350 million to pay for projects including roads, bridges and schools. The state issued 25-year taxable general obligation bonds, the first borrowing by Illinois since the state passed its pension “fix” in early December. But not unlike someone with a terrible credit score, Illinois must pay the highest penalty rate of...
Nearly 1,800 workers will be laid off throughout Illinois in the next two months. This unfortunate holiday news will affect nearly 500 Dominick’s employees as the company prepares to close up shop in Illinois. The latest round of notices includes 141 workers from the company’s Oak Brook headquarters and another 332 workers at its Northlake...