Faced with the impossible task of balancing Chicago’s budget without pension reform, Mayor Lori Lightfoot is forced to partially rely on phantom cuts and revenues.
The lawmaker who carried to the governor’s desk an infrastructure plan that doubled the state’s gas tax used his influence as a powerful state lawmaker to land his son a government job, a lawsuit alleges.
Illinois can do it the old way and raise taxes to deliver pork projects. Or Illinois can be smart and make each tax dollar work hard to deliver projects that help residents and the economy.
House Bill 3004 would have put banks and bondholders ahead of taxpayers and those who rely on government services. But Gov. Bruce Rauner’s amendatory veto strips the bill of those bailout provisions.
Union officials have voiced concern over contract issues such as the CTA seeking higher worker contributions toward health insurance and the elimination of “inefficient practices.”
Bailout bills moving in the Illinois General Assembly would attempt to turn Illinois’ massive debt problems into guaranteed profits for banks and bondholders and a lower standard of living for other Illinoisans.
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.