More scrutiny from property owners means more money in the pockets of certain members of Illinois’ political elite, including House Speaker Mike Madigan.
Flawed property valuations and the process required to fix them are a cash cow for law firms, including those of House Speaker Mike Madigan, Chicago Alderman Ed Burke and Illinois Senate President John Cullerton.
Several instances of corruption and mismanagement of public property and trust came to light in March and included new developments in cases involving Chicago Public Schools’ former CEO Barbara Byrd-Bennett and former Gov. Rod Blagojevich.
Illinoisans’ confidence in their state government is the lowest of residents of any state in the nation, and corruption stories from February 2016 don’t help.
The Chicago Teachers Union has threatened to strike as early as April 1 over Chicago Public Schools’ announced plan to stop paying a portion of teachers’ required contributions to their pension fund. Under Illinois labor law, however, CTU cannot legally strike before mid- to late-May.
Pension holidays, steep increases in teachers' salaries, and lopsided ratios of teacher contributions to pension payouts have caused the Chicago Teachers’ Pension Fund’s unfunded liabilities to shoot up to $9 billion in 2015.
Chicago is taking yet another black eye for its mishandling of a highly controversial ticketing system, which has slapped drivers with hundreds of millions of dollars in fines.
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.