Michael Madigan

Illinois’ supersized pension problem

By Ted Dabrowski
06/13/2013
Illinois’ pension problem dwarfs the retirement problems in all other states. Officially, the underfunding of the five state-run pension systems total $100 billion. But when more realistic assumptions are used, the shortfall exceeds $200 billion. Without real pension reform, every Illinois household is on the hook for more than $40,000 in additional taxes just to cover...

Illinois committee will reconvene to discuss pensions June 18

By Jane McEnaney
06/13/2013
Though Illinois taxpayers should be disappointed that pension reform was not enacted during the scheduled spring legislative session, they should also be relieved that fake reform was not enacted. The competing proposals offered by House Speaker Mike Madigan and Senate President John Cullerton did not offer solutions commensurate to the severity of Illinois’ pension problem (Senate Bill 1and Senate Bill...

Moody’s warns Illinois credit rating could fall without pension reform

05/31/2013
In what’s become a habit for Moody’s Investors Service, the credit rating agency warned today that Illinois faces more credit downgrades if it fails once again to reform its state-run pension systems. The state already has the lowest credit rating in the nation. This means Illinois pays more to borrow money than any other state. But what’s...

Cullerton’s pension plan full of flawed logic

By Jonathan Ingram
05/30/2013
A union coalition opposed to pension reform is arguing that a plan advanced by Senate President John Cullerton would save $26 billion more in retiree health care coverage costs than a plan backed by House Speaker Michael Madigan. From the Associated Press: A study by the We Are One Illinois coalition shows that if half of...

Clock is ticking in Springfield

By Matt Paprocki
05/28/2013
There are four days of legislative session remaining, during which time state lawmakers will debate many important issues that affect taxpayers in the state of Illinois. Here is what you need to know going into the last week of session. No budget … yet At this point in session, a state budget proposal is usually...

Capitol Updates: May 20 week in review

By Jane McEnaney
05/20/2013
This was an eventful week in Springfield. Though pension negotiations between House Speaker Mike Madigan and Senate President John Cullerton remain at an impasse, the General Assembly passedSenate Bill 2356, which raises the speed limit on Illinois’ tollways and interstates to 70 mph, up from 65 mph. Gov. Pat Quinn remains noncommittal on this issue. Here’s a look at some of the legislative...

Capitol Updates: May 6 week in review

By Jane McEnaney
05/11/2013
Both chambers were in session this week in Springfield. Moratorium on virtual schools passes out of committee On Tuesday afternoon, House Bill 494 passed out of the Senate Subcommittee on Charter Schools and was subsequently approved by the full Senate Education Committee. The Illinois Policy Institute’s Executive Vice President Kristina Rasmussen and Director of Education Reform Josh Dwyer attended both...

Capitol Updates: April 29 week in review

By Jane McEnaney
05/03/2013
This was an eventful week in Springfield with both chambers in session. Virtual charter school moratorium bill moves to Senate subcommittee The Senate Education Committee did not hear House Bill 494 during its hearing on Tuesday, so the Illinois Policy Institute’s Vice President of Policy, Ted Dabrowski, was unable to testify in opposition to the bill as planned. Instead,...

Madigan’s pension plan would perpetuate Illinois’ crisis

By Benjamin VanMetre
05/02/2013
Illinois Speaker Michael Madigan’s pension proposal (House Amendment #1 to Senate Bill 1) perpetuates Illinois’ crisis. The plan locks in the unmanageable defined benefit plan, guarantees the crowd out of core government services and continues the irresponsible pension payment ramp. Madigan’s plan keeps politicians in control of state employee pensions. By failing to get rid of...

Illinois Senate Republicans rebut Madigan’s ‘free lunch’ claim

03/14/2013
In response to Illinois House Speaker Michael Madigan’s claims that downstate school districts are getting a “free lunch” when it comes to teachers’ pensions, Illinois Senate Republicans released a newreport Tuesday outlining the disproportionate share of education funding Chicago receives. Here’s its main point: The net result of [school funding in Illinois] is a significant budget...