An Illinois-based energy company will halt construction on a planned $500 million plant, a casualty of the Land of Lincoln’s hostile business environment.
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.
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.