If an Illinois worker takes a pay cut during a recession, she knows the state isn’t going to take an even bigger chunk out of her paycheck. That’s because the state income tax rate stays the same. But if her home loses value, too, she could still see her property tax bill go up. Government...View Report
Illinois universities are blaming the recent budget impasse for their declining enrollment and financial problems. But the problems in higher education started long before the budget fight, and are largely self-inflicted.
Illinois universities have hiked tuition and relied on state subsidies to pay for exorbitant administrative salaries — and now credit rating agencies are punishing them for that destructive behavior.