The people of Illinois – workers, entrepreneurs and business owners – have been held back by policy errors that have plagued the state for decades. But with the proper policy framework, the state can come back to life and lead the Midwest.
The state’s 2016 pension cost is projected to increase to nearly $8 billion – or 25 cents of every dollar the state spends during the next budget year.
Since the January 2011 tax hikes, Illinois’ recovery slowed down, the rest of the Midwest sped up and the rest of the U.S. significantly accelerated. The Great Lakes states performed in lockstep with how well they fostered the free-enterprise system.
For Illinois’ downstate communities that have felt the pain of out-migration and need to revitalize their industrial base, a local Right-to-Work ordinance can be their first step to a comeback.
Among the changes is a new posting requirement that provides only a one-hour notice before a committee hearing, diminishing transparency and accountability.
The DCEO’s decision to play by its own rules deserves scrutiny not only because of its monetary cost, but because it involves a fiduciary failure symptomatic of governmental disregard for the rule of law. It exemplifies a political culture that must change if Illinois government is to turn the corner and move toward restoration and renewal.
Within hours of being sworn in as governor, Rauner offered a stark contrast by issuing a freeze on all non-essential spending, immediately followed by ethics and transparency executive orders aimed at deconstructing the disappointing status quo of Springfield politics.
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.