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Category Archives: Illinois Budget
When talking about the pension problem in Illinois, everyone focuses on the $100 or so billion underfunding. But the problem is not just the underfunding, it’s the amount the state needs to contribute to the plans each year to move … Continue reading
Today, the Northwest Herald’s editorial page came out in opposition to a proposal in the Legislature to charge sales tax on advertising. The Herald at least makes the obvious point right up front: “Our position might appear entirely self-serving. After … Continue reading
Speaker Mike Madigan held a press conference yesterday and addressed Governor Rauner’s latest ad blitz in support of his “Turnaround Agenda”, the point of which was to label the ads as “extreme”. Illinois Review has a good summary of the … Continue reading
We’re getting closer to the end of the fiscal year, and there’s a real chance of a government shutdown if there’s no budget. Governor Rauner appears by all accounts to be willing to stare down the Democrat leadership in the … Continue reading
In 1982, Ronald Reagan signed the Tax Equity and Fiscal Responsibility Act (TEFRA). TEFRA was a bill that increased taxes, and was part of a grand bargain that the President entered into with the Democrat-controlled Congress to increase taxes by … Continue reading