Gov. J.B. Pritzker inherited a $2.8 billion budget deficit the moment he stepped into office. Next year, that deficit is projected to be $3.4 billion1. It’s the same story every budget season. But Illinois’ budget crises could be a thing of the past if the state would adopt pension reform, right-size its union contracts and...View Report
Pension reform is a moral imperative. The alternative is a future in which core services are cut, taxes are raised, and pensioners risk losing what they’ve already been promised as the funds go insolvent.
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.