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.
Munger said that if raising taxes were the only answer to the budget crisis, lawmakers would have to increase the income tax from its current 3.75 percent to 8 percent.
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.
Total compensation for affected legislators and statewide officeholders equals about $1.3 million per month, according to the comptroller. On top of salaries, taxpayers also have to foot the bill for lawmaker pensions – in Illinois’ active legislators will each cost the state budget about $180,000 next year.
Illinois Comptroller Leslie Munger announced the state will delay a $560 million pension payment as the state’s government-pension-driven fiscal crisis worsens.
Illinois students could soon benefit from scholarship money to help them find a tutor, attend ACT or SAT prep sessions, pay tuition, get special education services or assist with other academic needs. That will happen in Illinois only if Gov. J.B. Pritzker lets the state’s schoolchildren benefit from the Federal Scholarship Tax Credit program, established...