Illinois’ mountain of debt will be Madigan’s fiscal legacy

By Adam Schuster

01/12/2021

Decades of institutionalized financial mismanagement left Illinois with the nation’s worst fiscal health. Illinois House Speaker Mike Madigan has been at the center of nearly every bad decision along the way.

TAGS: corruption, credit rating, debt, Mike Madigan, pensions, taxes

Pension reform key to protecting Illinois services, taxpayers after ‘fair tax’ rejection

By Adam Schuster

11/12/2020

Asking Illinoisans to pay more in taxes to receive less in services has been the trend in state government for the past decade, driven by the ever-growing cost of Illinois’ worst-in-the-nation pension crisis.

TAGS: fair tax, JB Pritzker, pensions

‘Fair tax’ ads falsely promise property tax relief that income tax hikes can’t deliver

By Adam Schuster

10/23/2020

Every state without an income tax has lower property taxes than Illinois. The progressive tax amendment includes no property tax reforms, so there’s no guarantee property taxes won’t rise as income taxes rise.

TAGS: JB Pritzker, progressive income tax, property taxes, Vote Yes for Fairness

S&P: Illinois faces junk rating, large budget deficit even with progressive tax revenue

By Adam Schuster

10/08/2020

A credit rating agency found Gov. J.B. Pritzker’s ‘fair tax’ would fail to close the state’s deficit or adequately fund essential services.

TAGS: credit rating, deficit, fair tax, Standard & Poor's

Pritzker progressive tax campaign wastes over $200K on ads in California, Texas

09/28/2020

Pushing a $3.7 billion tax hike to people who can’t vote in Illinois is an unusual way to spend some of Pritzker’s $56.5 million donation.

TAGS: fair tax, JB Pritzker, waste

Pritzker administration threatens 20% tax hike on everyone ‘regardless of their level of income’

By Adam Schuster

09/25/2020

While acknowledging the harm it would do to the state economy and working Illinoisans, Lt. Gov. Juliana Stratton claimed lawmakers would be ‘forced’ to look at hiking everyone’s taxes due to the budget crisis.

TAGS: fair tax, JB Pritzker, progressive tax

Illinois first to rely on ‘lender of last resort’ borrowing from Federal Reserve

By Adam Schuster

06/19/2020

Illinois' credit rating is just one notch above junk, the lowest of any U.S. state.

TAGS: borrowing, credit, Federal Reserve, JB Pritzker, Municipal Lending Facility

Pritzker’s accounting gimmicks can’t fix pension crisis, but real reform can

By Adam Schuster

02/21/2020

Illinois Gov. J.B. Pritzker previously floated a pension plan that included pawning-off state assets, taking on more high-interest debt and reducing pension funding before walking back the plan amid criticism. Here’s a real solution.

TAGS: bonds, budget, COLA: cost of living adjustment, credit rating, fair tax, Illinois Constitution, Illinois Department of Revenue, JB Pritzker, Moody's Investor Service, pensions, progressive income tax, Standard & Poor's

Illinois Senate Democrats pass progressive income tax plan, pretend property tax freeze

By Bryce Hill

05/01/2019

The Senate’s progressive tax proposal already differs from Pritzker’s original plan while adding a property tax freeze full of loopholes.

TAGS: fair tax, income tax, JB Pritzker, progressive income tax, taxes

Report: Absent reform, retirement benefits will eat over half of Illinois’ taxes

By Adam Schuster

04/24/2019

More than 25% of state revenue already goes to pensions and retiree health care, but Illinois would need to double that to fully fund promised benefits at current levels.

TAGS: COLA: cost of living adjustment, municipal pensions, pension guarantee, pensions, property taxes, taxes

S&P Global Ratings

Illinois’ mountain of debt will be Madigan’s fiscal legacy

Pension reform key to protecting Illinois services, taxpayers after ‘fair tax’ rejection

‘Fair tax’ ads falsely promise property tax relief that income tax hikes can’t deliver

S&P: Illinois faces junk rating, large budget deficit even with progressive tax revenue

Pritzker progressive tax campaign wastes over $200K on ads in California, Texas

Pritzker administration threatens 20% tax hike on everyone ‘regardless of their level of income’

Illinois first to rely on ‘lender of last resort’ borrowing from Federal Reserve

Pritzker’s accounting gimmicks can’t fix pension crisis, but real reform can

Illinois Senate Democrats pass progressive income tax plan, pretend property tax freeze

Report: Absent reform, retirement benefits will eat over half of Illinois’ taxes

Chicago Forward 2026: A pro-growth plan to end city budget deficits

Report Archive

Diana Graham

Process for unionizing non-state workers raises red flags

CBS Chicago: Illinois’ highest-paid superintendent receives $400K per year to oversee 1,200 students