Illinois House Speaker Mike Madigan’s power over Illinois politics is more precarious than ever. A steady stream of federal investigations, wiretaps and raids of people close to him, a deferred prosecution agreement with Commonwealth Edison wherein the utility giant admitted to bribing the speaker, and a grand jury subpoena served to Madigan’s office have led...View Report
The city has suffered significant revenue losses as a result of COVID-19 restrictions. Pensions will further damage city services even as the pandemic fades.
Illinois Treasurer Michael Frerichs said a progressive state income tax will open the door to taxing retirement income.
Illinois’ broken pension system puts $100,000 a year or more into the hands of 62 former state lawmakers. It has paid more than $1 million to 94 of them.
Only Gov. J.B. Pritzker’s progressive income tax amendment will appear on the ballot in November. Voters were denied a chance to make critical reforms to state government.
City leaders must prioritize critical spending – and avoid hiking taxes on a struggling economy.
Two decades of fiscal mismanagement have left state finances ill-prepared for the COVID-19 pandemic. Congress should condition any additional aid for troubled states on taxpayer protections that ensure pensions are solvent, accounting is realistic and budgets are balanced.
Pritzker should join other Democratic governors in postponing automatic pay raises, which would free up funds for needy Illinoisans and potentially preserve state worker jobs in the long run.
Three points stick out in recently released numbers: First, J.B. Pritzker is not a popular governor. Second, pollsters need to get real about the “fair tax” fantasy. And third, pension reform draws a diverse base of support, except at the Statehouse
Illinois Democrats, union members, government or nonprofit workers, and people of all income groups support a pension amendment that allows for changes in cost-of-living raises and other future benefits.
As Illinois elected leaders continue to delay action on pension reform, a broad and bipartisan coalition has succeeded in pushing for reforms to public employee benefits in New Mexico.