Until CPS passes necessary spending and pension reforms, giving any additional money to the system will only reward officials’ mismanagement and reckless behavior.
Tax-hike proponents claim there’s no way to fix Illinois’ chronic budget problems without more money. They want Illinoisans to believe the state’s tax revenues simply aren’t enough to cover the cost of government. But tax revenues aren’t the real problem. Illinois’ perennial budget crises stem from the state’s persistent overspending and misplaced spending priorities. The...
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.
The Education Freedom Tax Credit, also known as the Federal Scholarship Tax Credit, will give Illinois students access to donor money if the state opts into the program.