One year after a record-setting tax hike the state still can’t balance a budget, has done nothing to solve long-term fiscal problems and has further damaged its economic growth.
Central Falls, Rhode Island, filed for bankruptcy largely because of pension debt. If Illinois municipalities can’t meet or lower their pension obligations, they too could face fiscal collapse.
Yes, the state has a budget. But how that budget came to be reveals the reasons our state continues to spend with abandon, tax too much and fail in fostering an economy where its people can prosper.
Chicago’s regulatory roadblocks have derailed opportunity for the city’s food truck entrepreneurs. As a challenge to those restrictions reaches Illinois’ high court, the outcome of the case could be felt statewide.