Illinois state and local governments spend most in nation on pensions

By Adam Schuster

02/22/2019

According to recent data, Illinois spends nearly double the national average on pensions, measured as a percentage of all state and local government spending.

TAGS: GARS: General Assembly Retirement System, JRS: Judges’ Retirement System, municipal pensions, pension guarantee, pensions, property taxes, SERS: State Employee Retirement System, SURS: State Universities Retirement System, taxes, TRS: Teachers’ Retirement System

Pritzker, Madigan pledge progressive income tax hike by May

By Vincent Caruso

02/22/2019

Pritzker’s first budget address exalted the graduated income tax as a solution to the state’s fiscal problems. Despite evidence to the contrary, the governor is urging state lawmakers to speedily advance the measure.

TAGS: income tax, JB Pritzker, Mike Madigan, outmigration, pensions, progressive income tax, taxes

Pritzker budget doubles down on failure

By Austin Berg

02/21/2019

Getting behind bipartisan budget reform is the kind of bravery Illinoisans deserve from the executive branch. Instead, they’re getting more of the same.

TAGS: balanced budget requirement, borrowing, budget, debt, JB Pritzker, pensions

Repeating past mistakes: Pritzker proposes borrowing, stretching out payment ramp as pension solution

By Adam Schuster, Brad Weisenstein

02/15/2019

Trying to fix a massive pension deficit with more tax increases, deferring payments and gambling with taxpayer money is a recipe for failure.

TAGS: bonds, borrowing, credit rating, Dan Hynes, JB Pritzker, pension guarantee, pensions, progressive income tax

Illinois government has a lot of problems, revenue isn’t one of them

By Austin Berg

02/14/2019

Illinois families deserve better than to be told the only real solution is in their pocketbooks.

TAGS: balanced budget requirement, budget, JB Pritzker, pensions, progressive income tax, taxes

Property tax rates nearly double since 2007 as residents leave Harvey, Illinois

By Vincent Caruso

02/11/2019

Declining home values and a shrinking tax base have created a bigger property tax burden for Harvey, Illinois, homeowners. For their higher taxes, residents get corruption, debt and fewer services.

TAGS: harvey, municipal pensions, pension guarantee, pensions, property taxes, taxes

56 Illinois state lawmakers have refused to take a pension

By Joe Barnas

02/08/2019

Illinois’ 101st General Assembly can be leaders in pension reform by passing a constitutional amendment that allows for changes to future, unearned benefits.

TAGS: 401(k), GARS: General Assembly Retirement System, lawmaker pay, pension guarantee, pensions, taxes

2 in 5 Chicago city workers are paid $100K or more

By Vincent Caruso

01/18/2019

Chicago had nearly 15,000 municipal employees paid at least six figures in 2017, up more than 1,000 from the previous year. That’s more than 40 percent of the city’s workforce.

TAGS: Chicago, municipal pensions, pension guarantee, pensions, Rahm Emanuel, salaries

Another Illinois lawmaker hits the pension lottery

By Austin Berg

01/17/2019

There’s a lot of talk about renewed bipartisanship and a new day in Springfield. Dozens of state lawmakers have already opted out of the pension system. The General Assembly should take the lead and phase out their own defined-benefit system and get to work on a constitutional fix for the rest of Illinois’ pension mess.

TAGS: lawmaker pay, Lou Lang, pension guarantee, pensions

Inauguration day: 5 pro-taxpayer reforms Pritzker should push in 2019

By Vincent Caruso

01/14/2019

The Land of Lincoln has a new governor, but the state’s deep-seated problems remain. Here are five reforms that newly inaugurated Gov. J.B. Pritzker could pursue to begin setting the state on the right fiscal path.

TAGS: balanced budget requirement, Bruce Rauner, JB Pritzker, local government consolidation, pensions, school district consolidation, spending cap

Budget Solutions 2020: A 5-year plan to balance Illinois’ budget, pay off debt and cut taxes

Gov. J.B. Pritzker inherited a $2.8 billion budget deficit the moment he stepped into office. Next year, that deficit is projected to be $3.4 billion1. It’s the same story every budget season. But Illinois’ budget crises could be a thing of the past if the state would adopt pension reform, right-size its union contracts and...

View Report

Budget Solutions 2020: A 5-year plan to balance Illinois’ budget, pay off debt and cut taxes

Report Archive

Tracy Ross

Policy lessons from Illinois’ exodus of people and money

CBS Chicago: Illinois’ highest-paid superintendent receives $400K per year to oversee 1,200 students