Due to its poor financial health and lagging economy, Illinois carries unique economic and fiscal risks from a prolonged market downturn or recession. The state must act now to mitigate harm from COVID-19.View Report
Chicagoans will pay higher taxes on rideshare trips in 2020 as part of Mayor Lori Lightfoot’s first budget.
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.
The Chicago Transit Authority’s latest budget proposal includes 25-cent fare hikes.
House Bill 3004 would have put banks and bondholders ahead of taxpayers and those who rely on government services. But Gov. Bruce Rauner’s amendatory veto strips the bill of those bailout provisions.
Union officials have voiced concern over contract issues such as the CTA seeking higher worker contributions toward health insurance and the elimination of “inefficient practices.”
Bailout bills moving in the Illinois General Assembly would attempt to turn Illinois’ massive debt problems into guaranteed profits for banks and bondholders and a lower standard of living for other Illinoisans.