New IRS rules make clear that lowering the actual tax burden, not complicated workarounds, is the correct way to respond to tighter federal restrictions on SALT deductions.
The Democratic nominee in the Cook County assessor’s race is voicing support for a ban on city aldermen doubling as property tax appeals attorneys, an arrangement that encourages conflicts of interest.
Pension reform is a moral imperative. The alternative is a future in which core services are cut, taxes are raised, and pensioners risk losing what they’ve already been promised as the funds go insolvent.
While often regarded as a duplicative and unnecessary unit of government, former township employees in Illinois have banked more than $273 million in pension benefits since 1998.
The average lifetime pension benefit among the county’s 20 highest-earning municipal retirees is more than $1.2 million, while their average total retirement contribution is less than $75,000.
Active Des Plaines Park District pensioners – including two pension millionaires – have put taxpayers on the hook for more than $7.6 million in pension payouts since 1996.
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.