Chicago’s plan to pay off COVID-19 debt with federal aid hits a snag

By Justin Carlson

05/21/2021

Chicago had planned to use half of its federal relief funds to pay down pandemic debts, but new federal guidance may prevent that. Regardless, without pension reform the city will continue drowning in debt.

TAGS: Chicago, COVID-19, debt, pensions

Madigan begins collecting $7,093-a-month public pension

By Brad Weisenstein

04/06/2021

Former Illinois House Speaker Michael Madigan will collect $85,000 a year, but in a little more than a year his pension will shoot up to nearly $150,000 a year.

TAGS: GARS: General Assembly Retirement System, Mike Madigan, pensions

Federal stimulus passes with $1,400 for most Illinoisans, $13 B for government

By Patrick Andriesen

03/10/2021

President Joe Biden on Friday is expected to sign the COVID-19 stimulus bill, with direct payments to most Illinoisans and a significant boost to local and state governments. Illinois can use this opportunity to fix state finances.

TAGS: Joe Biden, pensions

Bill would stop Illinois lawmakers from getting public pensions

By Brad Weisenstein

03/09/2021

State lawmakers have significantly abused and underfunded their own pension system. Ending it would be a plus, but only a constitutional amendment will stop pension debt from swallowing Illinois.

TAGS: Dave Vella, GARS: General Assembly Retirement System, John Cabello, Mike Madigan, pensions

Moody’s report: Illinois pension debt reaches record-high $317 billion

By Adam Schuster

03/05/2021

Illinois worst-in-the-nation public pension debt grew 19% year over year. It will continue hurting the state economy and job growth, driving more people out of Illinois, unless there are reforms.

TAGS: debt, Moody's Investor Service, pensions, public sector

Illinois again ranks No. 2 in U.S. for highest property taxes

By Lisa Rigoni

03/04/2021

Illinois again ranked second for highest property tax rates in the nation in 2021, behind only New Jersey. Illinois homeowners average $4,942 in property taxes on the U.S. median valued home of $217,500 – exactly double the national average. That’s a tax each year of 2.27% of the house value, according to the 2021 state...

TAGS: pensions, population, property taxes

Hidden pension ‘tax’ costs each Illinoisan more than $1,400 per year

By Orphe Divounguy, Bryce Hill

03/02/2021

Illinoisans pay a hidden pension tax. Eliminating that cost would free up resources to help Illinois recover from the COVID-19 recession while also raising the state’s long-term economic potential.

TAGS: pensions, public sector, taxes

Flat education spending is a cut when pensions, administration take more

By Ann Miller

03/01/2021

Illinois Gov. J.B. Pritzker plans another year of flat education spending. The reality is the cash reaching classrooms is dwindling as pensions and administration eat more.

TAGS: budget, education spending, JB Pritzker, pensions

Chicago’s higher property taxes hit March 2

By Brad Weisenstein

03/01/2021

Cook County’s first property tax payments are due March 2. In Chicago, property taxes have grown more than 3 times faster than inflation for 20 years.

TAGS: Chicago, Cook County, pensions, property taxes

Madigan will retire with $2.9 million public pension after contributing just $350,000

By Adam Schuster

02/19/2021

Because of a pension sweetener for politicians that Madigan helped create, the former speaker’s pension will spike more than $66,000 the year after his first full year of retirement, then grow 3% each year thereafter.

TAGS: Mike Madigan, pensions

Police union contracts hinder discipline in Illinois’ biggest cities

Report Archive

Melissa Taylor

Policy lessons from Illinois’ exodus of people and money

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