Rahm’s 2018 Budget: More taxes on the way?

By Chris Lentino

08/02/2017

In the wake of the city’s 2018 preliminary budget report, Mayor Rahm Emanuel is playing it close to the vest about whether to raise taxes.

TAGS: budget, Chicago, pensions, Rahm Emanuel, taxes

Union lobbyist denied part of teacher pension after substitute teaching for 1 day

By Evelyn Hussey

08/01/2017

David Piccioli sought a teacher pension after lobbying for the Illinois Federation of Teachers.

TAGS: IFT: Illinois Federation of Teachers, pensions

Chicago Public Schools to pay $850 million in interest on $500 million loan

By Robert Brutvan

08/01/2017

The loan will not be paid off until current kindergarteners are in their mid-30s.

TAGS: CPS: Chicago Public Schools, education, pensions

New education funding plan repeats Chicago Public Schools bailout history

By Ted Dabrowski, John Klingner

07/25/2017

Senate Bill 1 is yet another unfair bailout of long-term mismanagement within Chicago Public Schools.

TAGS: budget, Chicago, CPS: Chicago Public Schools, education, pensions, Senate Bill 1

Rauner calls special session on education finance bill

By Brendan Bakala

07/24/2017

The special session will deal with Senate Bill 1, an education finance bill that contains an annual $215 million pension bailout for Chicago Public Schools.

TAGS: Bruce Rauner, budget, Chicago, CPS: Chicago Public Schools, education, pensions, Senate Bill 1

Illinois’ $5B tax hike will be eaten up by this year’s pension payment

By Austin Berg

07/20/2017

Illinoisans can take a look at their paystubs and notice the state decided to hike their income tax bill by 32 percent.

TAGS: income tax, pensions, property taxes

Understanding why the new budget fails Illinoisans

By Ted Dabrowski, John Klingner

07/13/2017

Tax hikes on struggling Illinoisans as the state is bordering on a recession, a lack of structural spending reforms, no true pension reform, $100 million in pork spending, and the continued threat of a junk credit rating are among the ways the new Illinois budget fails taxpayers.

TAGS: budget, credit rating, debt, income tax, pensions, taxes

Rockford receives credit downgrade as pension debt grows

By Robert Brutvan

07/12/2017

As pension debt mounts, Moody’s Investors Services has downgraded the city of Rockford to an A2 rating.

TAGS: downgrade, pensions, rockford

New study ranks Illinois 2nd-worst in fiscal health

By Marianna Schmiesing

07/12/2017

New findings from the Mercatus Center highlight how Illinois’ reliance on debt and costly pension and other employment benefits have put the state on the wrong fiscal track.

TAGS: budget, pensions

Moody’s warns of another credit downgrade for CPS after district fails to make full $733 million pension payment

By Robert Brutvan

07/07/2017

Chicago Public Schools failed to pay in full the $733 million pension payment that was due June 30, instead making a partial payment of $464 million, even after taking out a $387 million loan from JPMorgan.

TAGS: Moody's Investor Service, pensions