Illinois has a chance to fix its state finances, thanks to federal relief. But unless pension growth is brought under control, both retirees and taxpayers will be at risk as debt continues to consume state services.
On the heels of losing his signature “fair tax,” Illinois Gov. J.B. Pritzker wants House Speaker Mike Madigan out as the state Democratic leader. Both U.S. senators also make that call.
Peoria’s financial problems grew critical from the coronavirus, but the long-term threat of pension debt will remain even after more severe cuts are made.
The FBI wiretap of Mike McClain's phone is an indication authorities could be looking into criminal activity between House Speaker Mike Madigan and utility giant ComEd.
As previously undisclosed subpoena adds another angle to federal agents’ activity surrounding the longtime House speaker and chairman of the Democratic Party of Illinois.
The city of Springfield needs nearly $270 million more in revenue to meet the required contributions to its pension funds for retired police officers and firefighters.
By continuing practices such as automatic raises and taxpayer-subsidized platinum health insurance, along with a new $2,500 bonus, the AFSCME contract will transfer more than $3.6 billion in extra compensation from taxpayers to state workers.
The raid on retired Chicago Ald. Michael Zalewski is the latest indication federal authorities could be building a case against the nation’s longest-serving speaker.
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.