While J.B. Pritzker has not released a detailed tax plan of his own, reasonable cost estimates suggest the tax hike required to pay for the candidate’s spending promises would require doubling Illinois’ state income tax rate and cost the state an estimated 132,000 jobs and $31.3 billion in forgone GDP.View Report
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.
Illinois spends three times more on workers’ compensation for railroad construction and maintenance than neighboring Indiana.