With one proposal to pay off Illinois’ pension debt asking the typical homeowner to pay more than $1,900 in additional property taxes for the next 30 years, the stakes for pension reform have never been clearer.
Even after a 32 percent income tax hike, the Illinois General Assembly passed a state budget in 2017 that will generate an estimated $1.5 billion deficit in fiscal year 2018. That deficit is projected to grow to $2.15 billion in fiscal year 2019, according to the Governor’s Office of Management and Budget, or GOMB. The...
While effective property tax rates might be on the decline in some communities, census data show Illinois families are seeing a larger share of their household budgets eaten up by property tax bills.
Illinois’ fiscal collapse is the culmination of decades of budget gimmicks and taxes used to paper over the state’s structural spending problems and misplaced priorities that favor special interests over ordinary Illinoisans.
By fixing cost drivers, decreasing the cost of doing business in Illinois, and easing the tax burden, Illinois can encourage jobs growth and stand a better chance at attracting and retaining younger people.
The American Federation of State, County and Municipal Employees claims to be seeking a “fair contract” on behalf of Illinois state workers. But the power and influence exerted by the state’s largest government-worker union means the bargaining table almost always tilts in AFSCME’s favor. The reality is that AFSCME is the power player in negotiations...
An ordinance that would immediately allow thousands of food-cart street vendors the freedom to serve their communities sits before Emanuel’s City Council, and along with it the potential for explosive growth in the industry.
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.