If an Illinois worker takes a pay cut during a recession, she knows the state isn’t going to take an even bigger chunk out of her paycheck. That’s because the state income tax rate stays the same. But if her home loses value, too, she could still see her property tax bill go up. Government...View Report
Illinois needs to enact structural spending reforms to avoid following Puerto Rico down the path to insolvency.
If the White House wants to give Puerto Rico the right to bankruptcy, it should extend the option to all states and territories.
For Greece and Puerto Rico, avoiding sustainable solutions has lead to fiscal ruin. When will Illinois’ lawmakers stop whistling past the graveyard?
Too bad Puerto Rico isnt a state. If it were, Puerto Rico, and not Illinois, would have the nations worst-funded pension system and the countrys worst credit rating.