Illinois households that moved out of state earned $19,600 more, on average, than those who moved in during the 2014-2015 tax year.View Report
Cities and villages across the state are raising taxes or implementing new ones for a variety of functions, from attracting a fast-food restaurant to catching up on rising pension costs.
More than 2,200 Cook County workers receive salaries over $100,000. For career county workers, that means pensions worth millions of dollars over the course of their retirements.
Cook County Board President Toni Preckwinkle shared an admission that the soda tax was always about revenue.
After a tax hike spree from Chicago-area politicians, residents are stuck paying more only to carry an ever-larger load of debt.
Communities across Illinois are being forced to cut local services and raise taxes to afford their pension payments, putting residents who rely on local government services at risk because of the inherent failures of defined-benefit plans.
The new law is a step toward more fairness within Illinois’ police pension system, while offering certain police officers more control over their retirements.
The Harvey, Illinois, firefighters’ nearly bankrupt pension fund makes up just one part of Illinois’ combined $267 billion in state and local pension liabilities.
House Bill 418 would prevent retired police officers from double dipping in the Illinois Municipal Retirement Fund, which has placed a burden on taxpayers at the local level.
Illinois needs to enact structural spending reforms to avoid following Puerto Rico down the path to insolvency.
The head of the Illinois Municipal Retirement Fund, or IMRF, has dismissed calls for pension reform, disregarding the fact that pensions aren’t manageable, benefits aren’t affordable, and previous “reforms” propped up pensions on the backs of new workers.