More scrutiny from property owners means more money in the pockets of certain members of Illinois’ political elite, including House Speaker Mike Madigan.
Until CPS passes necessary spending and pension reforms, giving any additional money to the system will only reward officials’ mismanagement and reckless behavior.
The pension problem was created and has been fueled by weak politicians – men and women who decided their next elections were more important than the next generation.
Illinois House Speaker Mike Madigan’s insistence that Chicago Public Schools receive more than its fair share of state education funding is putting any stopgap budget deal at risk.
Madigan’s record $40 billion spending proposal and its $7 billion deficit revealed he was never serious about reaching a budget deal with Rauner. Instead it was nothing more than an attempt to create a deeper fiscal crisis, force additional tax hikes and create a bailout for the city of Chicago. As long as Madigan and other lawmakers keep prioritizing politics over people, Illinois will continue its downward spiral.
The average single-family home in Chicago will see a $400 increase in property taxes. And property-tax revenues for the city of Chicago will top $1 billion for the first time in city history.
Latest budget proposal from House Democrats would almost certainly cause further delays in officials’ pay, as Gov. Bruce Rauner would likely veto the plan, which is unbalanced by $7 billion.
Flawed property valuations and the process required to fix them are a cash cow for law firms, including those of House Speaker Mike Madigan, Chicago Alderman Ed Burke and Illinois Senate President John Cullerton.
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.