As Illinois elected leaders continue to delay action on pension reform, a broad and bipartisan coalition has succeeded in pushing for reforms to public employee benefits in New Mexico.
The years 2010 through 2019 will go down in Illinois history as a decade of public policy failure and economic decline. High fixed costs for pensions and government worker health care have prevented the state from balancing its budget in any year since 2001. Since the Great Recession in 2008, the state’s fiscal imbalance has...
Data from the American Petroleum Institute confirms doubling Illinois’ motor fuel tax will bring total taxes paid at the pump to third highest in the nation, up from 10th highest a year earlier.
Between the push for a graduated income tax, his budget address and newly released capital plan, Gov. J.B. Pritzker has proposed an onslaught of backdoor tax hikes on all Illinoisans.
The upward march of Illinois’ core cost drivers – pensions and government worker health insurance – cannot be paid for by tax hikes on small groups. Without reform, tax hike proposals on all Illinoisans will continue flowing from the Statehouse.
Financial stress testing shows Illinois and New Jersey are the most unprepared for the next recession. Both states lack sufficient rainy day funds and struggle with large pension debt.
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.