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
According to recent data, Illinois spends nearly double the national average on pensions, measured as a percentage of all state and local government spending.
Declining home values and a shrinking tax base have created a bigger property tax burden for Harvey, Illinois, homeowners. For their higher taxes, residents get corruption, debt and fewer services.
Chicago had nearly 15,000 municipal employees paid at least six figures in 2017, up more than 1,000 from the previous year. That’s more than 40 percent of the city’s workforce.
The Gem City joins a growing list of Illinois municipalities raising property taxes to pay for pensions.
Outgoing Mayor Rahm Emanuel is publicly pushing for a constitutional amendment to the state’s pension clause. Pension reform is the only way to combat rising property taxes and prevent further budget chaos in Illinois state and local governments.
Fitch Ratings has issued a warning about a pension plan pushed by one Illinois think tank, which includes no reform and would harm the state’s credit rating. The response from the Center for Tax and Budget Accountability proves how indefensible the plan really is.
Pension payouts collected by the Belleville area’s top-earning school retirees underscore the need to reform Illinois’ unaffordable pension system.
Pension costs now consume nearly 70 percent of the city’s annual property tax levy. It may not be enough.
Illinoisans should know lawmakers in the past made big moves to fix the state's worst-in-the-nation pension crisis. It’s politically possible. They just need a little reminder of our history.
Citing public safety pension costs, the city is expected to approve another increase to its property tax levy.