Illinois General Assembly

Lessons from the Edgar plan: Why defined benefits can’t work

By Ted Dabrowski
04/30/2013
The problem The blame for Illinois’ pension crisis is often laid at the feet of state politicians who supposedly “skipped” payments and caused the state’s five pension systems to be underfunded. This has prompted legislators to add a “funding guarantee” to the current crop of pension reforms bills in order to stop any future pension...

A wrinkle in the taxes

03/31/2013
Scott Reeder Illinois News Network Politicians love to pander. And no one gets pandered to more than old folks. A good case in point is what Gov. Pat Quinn did this week. He signed Senate Bill 1894, which raises the senior homestead exemption from $4,000 to $5,000. Quinn claims this will save seniors as much...

Business tax credit offers more options for school choice

03/12/2013
A few weeks ago, I wrote a blog post about how Sen. Marco Rubio, R-Florida, introduced a bill that would give tax credits to corporations if they donate to nonprofit organizations that provide scholarships to students in low-income families for private school tuition. Now, state Rep. Michael Connelly, R-Wheaton, has introduced a parallel bill in the Illinois General Assembly....

Budget Solutions 2014: Pension reform and responsible spending for state and local governments

By Benjamin VanMetre, Jonathan Ingram
02/27/2013
Illinois is in crisis. According to official government numbers, Illinois has an unfunded pension liability of $96 billion – the worst in the nation. This heavy debt burden, combined with the state’s culture of out-of-control, wasteful spending, has driven the state into an economic death spiral. Illinois cannot be economically prosperous until real pension reform...

TAGS: Medicaid, pensions