The mayor’s Chicago budget plan includes a $76.5 million property tax hike despite $3.5 billion in federal aid and funds permanent programs with temporary revenues but includes no push to fix pensions.View Report
A new report from watchdog Truth in Accounting shows each taxpayer’s share of state debt has nearly doubled since 2009 to $57,000 as total debt increased by $10 billion—mostly due to pension obligations.
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.
What you need to know to better get answers about what local and state government leaders are doing in Illinois.
Gov. J.B. Pritzker said he achieved a balanced budget each year he has been in office. Not true, according to official state comptroller financial reports. Illinois budgets have been in the red for 21 years in a row.
A Volcker Alliance report on truth and integrity in state budgeting finds Illinois lacking. Debt, budget gimmicks and thin reserve funds gave the state poor marks.
The first step of passing a budget is to determine how much is available to spend. Illinois routinely misses the mark in estimating future revenues. There is a solution.
Because Illinois state lawmakers waited until the last minute to pass a budget, no one noticed multiple errors that could have halted about half of the state’s spending until a month before the fiscal year ended. Haste makes waste of taxpayer dollars.
The fiscal year 2022 budget includes pay hikes for members of the Illinois General Assembly, who were already among the nation’s highest-paid state lawmakers. It also boosts office allowances and leader stipends.
Leaders claimed the budget was balanced and included no tax hikes, but neither is true. Illinois state lawmakers for the 21st time passed a deficit budget – one that includes $655 million in new taxes and a nearly $1,200 raise for themselves.
Illinois politicians used Madigan’s teachings – avoid messy democracy and disenfranchise taxpayers – by again waiting until the last minute to pass major legislation. Good things rarely grow in the dark.