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

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.

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

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.

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

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.

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.

Gov. Bruce Rauner has compromised over and over to strike a deal, to the point of abandoning every reform he once demanded. But no matter how much Rauner gave, House Speaker Mike Madigan never budged.

The budget plan proposed by Republican General Assembly members would raise taxes by over $5 billion without enacting any significant spending reforms.