Between 2014 and 2016, Illinois’ Medicaid expansion cost $4.6 billion more than its supporters had forecasted, crowding out services for Illinois’ most vulnerable residents.
The Senate’s “grand bargain” contains a one-year spending “cap” that won’t improve fiscal responsibility. A real cap must come with structural spending reforms to return spending to a level that taxpayers can afford.
Gov. Bruce Rauner has suggested funding CPS with tax increment financing, or TIF, funds; this would temporarily bail out the district, but more needs to be done to address serious concerns about Chicago’s TIF program.
A new proposal from state Sen. Toi Hutchinson, D-Chicago Heights, would tax internet streaming services in Illinois, much like the potentially illegal internet streaming tax implemented in Chicago.
In the wake of the “grand bargain” budget plan failure, an Illinois politician has proposed applying the 6.25 percent state sales tax to a broad range of services.
Chicago’s $1.15 billion projected budget gap is the latest in a decades-long string of structural deficits. Making Chicago’s high taxes worse is not the solution.