With one proposal to pay off Illinois’ pension debt asking the typical homeowner to pay more than $1,900 in additional property taxes for the next 30 years, the stakes for pension reform have never been clearer.View Report
Agreeing on how much money one has to spend is a basic first step of budgeting.
Illinois House Bill 3868 would give Gov. Bruce Rauner the authority to trim costs and reorder the state’s spending priorities to balance the budget.
Voters will have the opportunity in November to decide, by way of a constitutional amendment, whether lawmakers should be able to divert transportation funds toward other priorities.
In light of the Illinois General Assembly’s refusal to pass a balanced budget, the Unbalanced Budget Response Act is a prudent measure that would temporarily allow the governor to shift funds and reduce spending to balance the state’s budget.
The plaintiffs in the SB 1 case are asking the court to do something extraordinary: to hold, in effect, that pension benefits should receive stronger protection than any other type of constitutional right.
Illinois Policy Institute files amicus brief in SB 1 case
Illinois ranks worst in the nation on ability to pay for its pension debt.