The Harvey, Illinois, firefighters’ nearly bankrupt pension fund makes up just one part of Illinois’ combined $267 billion in state and local pension liabilities.
Polling shows that Illinoisans are overwhelmingly opposed to an income tax hike, and Illinois’ poor economic growth combined with wealth out-migration mean billions in tax hikes will only inflict further damage on a struggling state.
Senate Bill 1719 would impose a 20 percent surcharge on fees earned by investment managers, but the spring legislative session ended with the Illinois House failing to call the measure for a vote.
Illinois state Rep. Barbara Flynn Currie has introduced a pension bill that is unfair to new and current workers, is potentially unconstitutional, bails out Chicago Public Schools’ pensions, and perpetuates Illinois’ broken pension system.
Jackson County has the highest median property taxes among the southernmost counties in Illinois, and falls in the state’s top 50 counties for highest property taxes. Meanwhile, Hardin County residents pay the lowest median property taxes in the state.