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.
In 2010, the unfunded debt related to pensions and retiree health care costs for local and state government workers across Illinois was $203 billion, the equivalent of more than $43,000 per household. In just six years, the total debt Illinois households are on the hook for has jumped to $56,000, or 31 percent. That’s a $13,000 increase for each household. Total unfunded debt for state and local governments in Illinois now totals $267 billion.
Though Chicago already has the highest sales tax in the nation as well as massive property taxes, the Chicago City Council passed new hikes on parking fees in Midway and O’Hare airports.
A law passed by the Illinois General Assembly in June allows Chicago to create new transit-based super TIFs, adding more opportunities for city-run slush funds to divert and hoard property-tax dollars.
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.
Ninety-two percent of Americans support a body camera requirement for police officers; to enhance transparency and accountability, Chicago should require its police to use body cameras.
November saw Chicago’s City Council let the term of the legislative inspector general, who is tasked with overseeing City Council, expire without hiring a replacement, as well as several other instances of breach of public trust and influence peddling around the state.