The city of Springfield needs nearly $270 million more in revenue to meet the required contributions to its pension funds for retired police officers and firefighters.
Illinois Gov. J.B. Pritzker advised state agencies to prepare for budget cuts next fiscal year, despite approving $4.7 billion in tax and fee hikes in his first year alone.
Chicago’s $1.15 billion projected budget gap is the latest in a decades-long string of structural deficits. Making Chicago’s high taxes worse is not the solution.