Gov. J.B. Pritzker sold the iconic state office building in downtown Chicago to Google for $105 million. He settled for far less than the $300 million sale price state politicians predicted.
Has Illinois Gov. J.B. Pritzker got a deal for you: Sell a whole state building in downtown Chicago for less than half of what taxpayers will pay to get back one-third of it.
State workers are still being paid as their five Chicago-area driver’s license facilities remain closed for nearly a year. That’s as 1.2 million Illinoisans are driving on expired licenses.
Illinois can do it the old way and raise taxes to deliver pork projects. Or Illinois can be smart and make each tax dollar work hard to deliver projects that help residents and the economy.
Including cash from an imagined Thompson Center sale in state budgets was so common it became a punchline. But Illinois Gov. J.B. Pritzker signed a law that finally puts the massive state office complex on the market.
One year after a record-setting tax hike the state still can’t balance a budget, has done nothing to solve long-term fiscal problems and has further damaged its economic growth.
The Civic Federation’s criticism of Gov. Bruce Rauner’s proposed budget is a mixed bag, with its own proposals for Illinois’ financial crisis – including nearly $3 billion in tax hikes – missing the mark.
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.