Outside of Chicago, municipal property taxes across Illinois are being consumed by police and fire pensions, leaving fewer resources for public safety.
Illinois has the highest pension debt per capita. Even if the state spent an extra $1 million a day, your distant descendants would still be paying in 2600.
Harvey is seeking state aid under Illinois’ Financially Distressed City Law, but without pension reform, state oversight offers little hope to fix its $164M crisis.
Chicago’s 2025 budget needed $345 million in fines, forfeitures and penalties. It was $99 million 30 years ago. What will the new budget extract from residents?
If Chicago’s pension systems become insolvent, the city will have to reduce benefits or make serious cuts to city services. The only way out is constitutional reform.