Gov. J.B. Pritzker inherited a $2.8 billion budget deficit the moment he stepped into office. Next year, that deficit is projected to be $3.4 billion1. It’s the same story every budget season. But Illinois’ budget crises could be a thing of the past if the state would adopt pension reform, right-size its union contracts and...
Pension reform is a moral imperative. The alternative is a future in which core services are cut, taxes are raised, and pensioners risk losing what they’ve already been promised as the funds go insolvent.
Reforming future benefit growth via a constitutional amendment is the only way to ensure the retirement security of government workers, protect taxpayer budgets and fulfill the needs of Illinoisans reliant on core services.
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...
Illinois needs a taxpayer bill of rights to urge policymakers to budget based on available revenue — or be prepared to subject tax increases to direct voter approval.
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.