Workers’ compensation is a significant cost to Illinois taxpayers and drains scarce tax dollars from government coffers. A previous report in this series estimated the direct cost of workers’ compensation to state, county and municipal governments is $402 million in worker payouts per year.1 Building upon those findings, this report estimates that the total cost of workers’ compensation to...View Report
State Sen. Dan McConchie, R-Hawthorne Woods, filed legislation March 23 that would give the Illinois Comptroller’s office discretion to delay payments to lawmakers if insufficient funding exists to do so. This came just hours after a Cook County judge said lawmakers must be paid.
The Senate’s “grand bargain” contains a one-year spending “cap” that won’t improve fiscal responsibility. A real cap must come with structural spending reforms to return spending to a level that taxpayers can afford.
Gov. Bruce Rauner has suggested funding CPS with tax increment financing, or TIF, funds; this would temporarily bail out the district, but more needs to be done to address serious concerns about Chicago’s TIF program.
The Senate adjourned yesterday without taking any votes on the "grand bargain."
The proposal would be part of the Senate’s “grand bargain,” which also includes a multibillion-dollar income tax hike.
A new report from the Commission on Government Forecasting and Accountability shows Illinois has experienced falling tax collections, which may indicate trouble in the state economy; spending reforms – not tax hikes – are what Illinois needs to right its fiscal ship and boost economic growth.
Attempts to cut off state worker pay need not end in a tax hike.
The Illinois Senate budget proposal merely puts off the state’s day of reckoning through more of the same: tax hikes, borrowing and spending, without the necessary reforms to put the state on a path to fiscal and economic health.
As pressure mounts on state senators and representatives to vote in favor of multibillion-dollar tax hikes, lawmakers should remember the promises they’ve made to taxpayers.
The new statewide sugary drink tax, on top of Cook County’s similar tax and Chicago’s highest-in-the-nation sales tax, would make soda prices in the city skyrocket.