Two decades of fiscal mismanagement have left state finances ill-prepared for the COVID-19 pandemic. Congress should condition any additional aid for troubled states on taxpayer protections that ensure pensions are solvent, accounting is realistic and budgets are balanced.
Illinois law requires the governor to propose a budget balanced with existing revenues. To do so, Gov. J.B. Pritzker proposes cutting aid owed local governments, raiding the road fund, letting health insurance costs pile up and withholding taxpayers’ refunds.
Illinois Gov. J.B. Pritzker previously floated a pension plan that included pawning-off state assets, taking on more high-interest debt and reducing pension funding before walking back the plan amid criticism. Here’s a real solution.
Despite Gov. J.B. Pritzker touting growth in “every major region,” Illinois shed jobs in three metropolitan areas and lagged the national average in seven more.
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.