More than 25% of state revenue already goes to pensions and retiree health care, but Illinois would need to double that to fully fund promised benefits at current levels.
Ultimately, the state’s spending and debt habits mean Pritzker’s plan will be a bridge to higher taxes for the middle class. Pritzker and state lawmakers should instead pursue sensible spending reforms that don’t require declaring open season on Illinois taxpayers.
While New York lawmakers have agreed to make the state’s 2% temporary limit on property tax levies permanent, Illinois should take reform farther by enacting a freeze on levies and giving local governments the ability to rein in their spending.
The Illinois House of Representatives passed the Classrooms First Act by a unanimous vote March 28. If it becomes law, students, teachers and taxpayers will benefit.
By reducing administrative bloat in Illinois school districts, the bill would enable property tax relief while ensuring education dollars reach students and classrooms first, rather than bureaucrats.
Chicago’s $1.15 billion projected budget gap is the latest in a decades-long string of structural deficits. Making Chicago’s high taxes worse is not the solution.