Illinois’ comeback story starts here.
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Illinois lawmakers will be in Springfield on Tuesday for a special session on pension reform. Leaders of both parties say they’ve agreed on a plan to fund the system that’s currently $100 billion in the red, thanks to years of skipped payments. And late Monday afternoon, a bipartisan committee approved that plan. It will now...
Democrats in Illinois have dug a $100 billion pension hole, and now they want Republicans to rescue them by voting for a plan that would merely delay the fiscal reckoning while helping to re-elect Governor Pat Quinn. The cuckolded GOP seems happy to oblige on this quarter-baked reform. Legislative leaders plan to vote Tuesday on...
Illinois Policy Institute CEO John Tillman joined Bruce Wolf and Dan Proft on WLS AM890 to discuss the upcoming pension vote.
Illinois lawmakers Tuesday passed a deal on pension reform proposal that’s been developing for about three years. The House voted 62-53 in favor of the plan, sending it to Gov. Pat Quinn, who has said he will sign it. The Senate approved the measure 30-24 just minutes earlier. “There will be changes here, much-needed changes,...
Illinois lawmakers are returning to Springfield Tuesday to vote on a proposed pension “deal.” The proposal is being billed as harsh reform, but in reality will not solve the pension crisis and at best, takes Illinois’ pension crisis back to 2011 levels. One component of the deal is a change in the way cost-of-living adjustments are calculated...
by Larry Yellen The latest battle over Illinois pension reform is expected to come to a head on Tuesday in Springfield. Governor Quinn and legislative leaders are pushing hard for a “yes” vote. Meanwhile, opponents have been working to drum up opposition, including having retirees flood lawmakers offices before the vote. The outcome is still...
by Greg Hinz Illinois legislators Friday afternoon received a fact sheet outlining many of the details in the pension reform deal agreed to on Wednesday by their leaders, the deal said to save taxpayers $160 billion over the next 30 years. The document (check it out at the end of this post) generally follows the lines of...
By MARK PETERS and STEPHANIE BANCHERO New details emerged Friday about a proposal to overhaul Illinois’s public-employee retirement system, hardening opposition from public-sector unions and drawing criticism from some conservatives for not going far enough. Democratic and Republican leaders agreed earlier in the week on a plan to repair the Illinois pension system—widely regarded as the most troubled...