Public pensions are already eating away Illinois government services, increasing by more than 500% during the past 20 years as spending on core services including child protection, state police and college money for poor students has dropped by nearly one-third since 2000. At the same time the clock is running out on the state’s public...
Ald. Ed Burke has long been criticized for operating a lucrative law business in the politically clouted world of Cook County property tax appeals, a world in which the speaker of the Illinois House of Representative continues to make money.
Chicago’s mayor wants permission from Springfield to impose a new tax on high-end professional services and raise taxes on pricier home sales, as the city faces down a $1 billion deficit.
A proposal in the Illinois House would allow lawmakers to forgo their annual cost-of-living increase in base salary. The move comes after former lawmakers sued for back pay.
The elections scheduled for November 2020 are already injecting uncertainty into the economy, and the progressive income tax ballot question will make matters worse.
A circuit court judge sided with two former Illinois state lawmakers suing the state for back pay on past cost-of-living increases the Illinois General Assembly voted to freeze.
Lawmakers sold 20 new taxes and fees as necessary to rebuild crumbling roads and bridges and balance the budget. Instead, taxpayers will be funding dog parks, swimming pools, snowmobile paths, a vacant theater and pickleball courts.
Property tax increases cannot be capped without addressing the costs driving high property taxes. Some lawmakers are ignoring that to draw support for Gov. J.B. Pritzker’s progressive tax.
Persistent budget deficits, enormous and growing pension obligations, a high debt burden and labor contract negotiations all await Lori Lightfoot as she settles into office.