Ep. 5: Pensions 101: Understanding IL’s pension crisis
Ep. 5: Pensions 101: Understanding IL’s pension crisis
Guest: Adam Schuster
Illinois’ rising property taxes driven by $75 billion local pension debt
Illinois’ rising property taxes driven by $75 billion local pension debt
Rapidly rising property taxes and growing pension costs leave homeowners asked to pay more to get less. Relief requires structural pension reform, starting with a constitutional amendment.
Madison County ending taxpayer support of history museum
Madison County ending taxpayer support of history museum
During the past decade, one of the few taxpayer-supported local history museums in Illinois collected over $2 million. That is ending, but not before another $300,000 in taxes is handed to the museum.
$119.5M later, Southern Illinois taxpayers still trying to get airport off ground
$119.5M later, Southern Illinois taxpayers still trying to get airport off ground
An underused airport near Belleville, Illinois, has required local taxpayers to chip in $119.5 million since 2002 to keep it operating. Even with pandemic money, 2020 was even worse.
Pensions in Quincy cost 126% of municipal property taxes
Pensions in Quincy cost 126% of municipal property taxes
Quincy property taxes do not generate enough to fund the municipal pension costs. Even with that heavy burden, there is so much state and local pension debt that the average Quincy household owns more than $35,600.
Juan Giron
Juan Giron
“A $60,000 increase isn’t gradual. I thought, ‘This has to be a mistake. Someone must have spilled their coffee, added a zero, or something.’”
Remaining Illinois unemployment offices reopen by appointment
Remaining Illinois unemployment offices reopen by appointment
More than 18 months after Illinois Department of Employment Security offices closed their doors to Illinoisans, all state job centers have reopened for in-person assistance. Job seekers need an appointment, though.
Nearly 40 cents of every education dollar in Illinois goes to pensions
Nearly 40 cents of every education dollar in Illinois goes to pensions
Rapidly rising pension costs compete with classroom spending, reducing resources for teachers and students while driving up property taxes.
Over 90% of Rock Island municipal property taxes taken by public pensions
Over 90% of Rock Island municipal property taxes taken by public pensions
Despite so much of the property tax share going to public pensions, there is still a huge unmet pension debt. The average Rock Island household owes nearly $40,000 to state and local pensions.
Chicago average property taxes up $72 to $180, driven by pension debt
Chicago average property taxes up $72 to $180, driven by pension debt
Chicago homeowners are likely to see average property tax bills rise between $72 and $180 based on the city’s new budget. Higher taxes are driven by $47 billion in pension debt, but pension reform can change that.
Ep. 4: Obstacles to education with Mailee Smith
Ep. 4: Obstacles to education with Mailee Smith
Guest: Mailee Smith
Over 100% of Danville municipal property taxes consumed by pensions
Over 100% of Danville municipal property taxes consumed by pensions
The average Danville household owns nearly $40,000 in state and local pension debt.
Haywood Talcove
Haywood Talcove
“So far, Illinois has lost $1 billion to fraud, at least. Regardless of how you feel, politically, Democrat or Republican, the money that you’re losing could meet all the social program needs that you would ever want for your population.”
Jeremiah Griffin
Jeremiah Griffin
“I want to tell my story so that kids that deal with learning disabilities or people telling them, ‘They can’t be something,’ feel like they can be something, and they don’t listen to the negativity.”