Faced with the impossible task of balancing Chicago’s budget without pension reform, Mayor Lori Lightfoot is forced to partially rely on phantom cuts and revenues.
Funding for a third Chicagoland airport was included in the latest state budget. The controversial plan brings a risk for more corruption and overspending that will cost taxpayers millions.
The city of Springfield needs nearly $270 million more in revenue to meet the required contributions to its pension funds for retired police officers and firefighters.
Illinois Gov. J.B. Pritzker advised state agencies to prepare for budget cuts next fiscal year, despite approving $4.7 billion in tax and fee hikes in his first year alone.
Each year St. Clair County, Illinois, taxpayers must add money to keep MidAmerica St. Louis Airport open. While passenger traffic is increasing, so are expenses.
Gov. J.B. Pritzker’s “fair tax” plan falls far short of the revenue needed to pay for his spending promises – feeding fears of future tax hikes on middle-class families.
Data from the American Petroleum Institute confirms doubling Illinois’ motor fuel tax will bring total taxes paid at the pump to third highest in the nation, up from 10th highest a year earlier.
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.