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
According to recent data, Illinois spends nearly double the national average on pensions, measured as a percentage of all state and local government spending.
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.
Getting behind bipartisan budget reform is the kind of bravery Illinoisans deserve from the executive branch. Instead, they’re getting more of the same.
Trying to fix a massive pension deficit with more tax increases, deferring payments and gambling with taxpayer money is a recipe for failure.
Illinois families deserve better than to be told the only real solution is in their pocketbooks.
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.
Illinois’ 101st General Assembly can be leaders in pension reform by passing a constitutional amendment that allows for changes to future, unearned benefits.
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.
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.
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.