Illinoisans faced 1,026 mass layoffs in June 2024, with manufacturing and transportation sectors hit hardest. John Deere in East Moline accounted for about 1-in-4 of the layoffs announced statewide.
Pension deficits are causing communities to consider more borrowing – and gambling with the proceeds – as pensions continue to consume bigger shares of budgets.
The village of Skokie issued $176 million in new bonds to fund shortfalls in public safety pensions. The village joins a growing list of municipalities forced to borrow to meet “unsustainable” pension obligations.
Those pushing the bag tax in Illinois may not care much about the body of research on this topic. They’re looking out for a different kind of green. In a scramble for new revenue and an unwillingness to take on any reform on the spending side, the Statehouse has turned to creative ways to nickel-and-dime residents.
City officials suggest Moline will face a budget deficit without a property tax hike – which would only worsen the property tax plight of area homeowners.
While Quad Cities geography connects East Moline and the Iowa cities of Davenport and Bettendorf, Illinois’ abundance of school districts means their administrative environments are worlds apart. By consolidating duplicative administrative bodies, East Moline could generate taxpayer savings.
Chicago’s $1.15 billion projected budget gap is the latest in a decades-long string of structural deficits. Making Chicago’s high taxes worse is not the solution.