by Kristina Rasmussen Illinois has trouble. Big trouble. Our public pension system is one market crash away from disaster. Our unemployment numbers are over 10 percent. People are hightailing it for greener pastures. You’d think Illinois legislators would focus on turning this state around with bold reforms. Think again. Even as the Illinois General Assembly failed to address the pension crisis,...
by Jacob Huebert In its November veto session, the Illinois General Assembly failed to pass the comprehensive pension reform that Illinois needs to avoid fiscal disaster. But at least it took one step in the right direction: It voted to repeal provisions of state law that allowed a few privileged individuals to receive large public pensions for the years they spent...
by Kristina Rasmussen From the start of discussions over the “tax relief” package being discussed by the Illinois General Assembly, I’ve been concerned about the lack of apparent relief for the middle class. Of the various provisions in the bill (SB397), the one clear measure aimed at providing broad-based relief was supposed to be the personal exemption increase: Illinois...
by Kristina Rasmussen Much to the dismay of families and businesses across the state, the Illinois General Assembly passed the largest tax hike in Illinois’ history earlier this year. People are hurting as a result. Income once earned for the household budget is now sent to government. The job market remains weak. Businesses understandably want relief....
In just ten years, the Illinois General Assembly pushed the burden of billions in government spending onto Illinois’ future generations. Official estimates put Illinois’ unfunded pension liability at $85.6 billion. But that amount does not take into account the $25.8 billion in pension obligation bond (POB) payments still outstanding, which have a net present value...
By Chris Andriesen
10/11/2011
Introduction Policy changes lives. Legislation that lowers the cost of living and doing business in Illinois makes life better across the state. Legislation that gives children better educational opportunities can transform the futures of families and communities. But legislation that increases taxes, drives up public debt or limits economic opportunity can destroy a family’s dream,...
Before the Illinois General Assembly began its spring session extension on June 22, the Illinois Policy Institute held a press conference in Springfield to present our latest report, “Budget FAIL: Plan Awaiting Gov. Quinn’s Signature Grows Spending, Debt.” The report shows that the 2012 budget is not a reduction in spending and does little to...
(UPDATED: action in House pension committee. See below) by Collin Hitt A bold proposal to reform government employee pensions has been put forward, Senate Bill 512. It is the broadest and best legislation yet introduced by legislative leaders hoping to address the long term debt, and insolvency, of Illinois’s public employee pension funds. Illinois taxpayers...
Illinois lawmakers are proposing legislation that would create new state agencies and give out tax credits to certain groups.
In case you missed the results of Medicaid reform amid all the news of the massive tax hike last week, here are the details.
