Illinois is the second-most corrupt state in the nation, according to the University of Illinois-Chicago. And corruption costs the state economy at least $550 million per year. But the size and scope of government corruption is nothing new for Illinoisans. What is new? Powerful Illinois lawmakers, Chicago aldermen, local mayors and business interests are involved...View Report
Illinois borrows money to reduce pension obligations, with more borrowing planned. Claims $400 million in current budget savings, but admits to investors it cannot calculate any savings.
A report from one of the largest credit rating agencies criticized Gov. J.B. Pritzker’s “dubious” budget proposal for avoiding necessary fiscal reforms.
Trying to fix a massive pension deficit with more tax increases, deferring payments and gambling with taxpayer money is a recipe for failure.
Ahead of Gov. Pritzker’s first budget address, one of the “big three” credit rating services warned the new governor against raising taxes.
Voters in Maine Township High School District 207 will consider Nov. 6 whether to approve a $195 million bond referendum to update its three high schools in northern Cook County.
According to a new report by Moody’s Investors Service, Illinois’ unfunded pension liabilities equaled 601 percent of state revenues in 2017, a U.S. record.
While the name of the home stadium for the Chicago White Sox has changed over the years, its status as a tax burden has not.
With pension debt straining city finances, local politicians have insisted on turning to its declining population for more tax revenue.
Lawmakers should voluntarily adopt a spending cap to give taxpayers the certainty they deserve.
One rating agency cited Illinois’ “persistent crisis-like budget environment” as explanation for the state’s near-junk credit. A spending cap constitutional amendment and pension reform could go a long way toward putting the state on a healthier fiscal path.