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Tag Archives: General Assembly
In its May 8th decision, the Supreme Court couldn’t have been plainer as to the priority of pension obligations in the state budget, and placed the greatest portion of the blame for the condition of the pension funds squarely where … Continue reading
We’re now seeing the real face of Illinois’ pension crisis by the cuts being proposed by Governor Rauner in his 2016 budget. In Fiscal 2016, Illinois will owe $6.8 billion to its 5 pension plans, which will account for roughly … 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