Perry County is home to the DuQuoin State Fair, but the prize hog is a pension system eating money needed for public safety and other core services. County employees face layoffs.
Illinois is home to the nation’s worst pension problem. A bill aimed at double-dipping by local politicians could make it better as Illinois pursues a pension system overhaul.
More than 25% of state revenue already goes to pensions and retiree health care, but Illinois would need to double that to fully fund promised benefits at current levels.
Illinois borrows money to reduce pension obligations, with more borrowing planned. Claims $400 million in current budget savings, but admits to investors it cannot calculate any savings.
Despite already shouldering one of the nation’s highest total tax burdens, middle-class Illinoisans would be exposed to extra income taxes under language proposed by Gov. J.B. Pritzker.
Illinois’ high court ruled a former union employee who worked a single day in the classroom is eligible to receive a decade’s worth of teacher pension benefits.
Because the governor doesn’t address state and local governments’ ballooning pension costs, the typical Illinois family will continue to see their tax bills rise.
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.