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Tag Archives: Illinois Budget
What to Do About Illinois’ Debt (And Death is Not an Option)
With more than $7 billion of unpaid bills and (depending on who you ask) $130-$200 billion in unfunded pension liabilities, a credit rating hovering just above “junk” status and people and businesses fleeing in droves, there are no easy answers … Continue reading
The Pension Shift Buried in the Illinois Budget
As Nancy Pelosi famously said during the Obamacare debate: “(W)e have to pass the bill so you can find out what is in it…” That quote must also be applied to the Budget Implementation Bill (BIMP) passed by the Illinois … Continue reading
Posted in Education, Property Taxes, Public Pensions
Tagged Illinois Budget, Public Pensions
2 Comments
Frustrated? Call (217) 782-5350. Ask for Mike.
We have 19 days until the end of the legislative session, and how have we spent the month of May so far? We didn’t meet at all during the first week, and this past week was spent passing resolutions and … Continue reading
Posted in Illinois Budget
Tagged Budget, General Assembly, Illinois Budget, Michael Madigan
3 Comments
Illinois Can’t Balance It’s Budget by Taxing Retirement Income
Back in December, the Northwest Herald ran a story about a proposal to make retirement income subject to Illinois income tax. On December 2, Rep. Dave McSweeney sponsored House Resolution 890, which states that: “We state our belief that the … Continue reading
Posted in Public Pensions, Uncategorized
Tagged Dave McSweeney, Illinois Budget, Public Pensions
2 Comments
19% of Illinois’ Budget Goes to Pensions, and That Number is Going UP
24% of Illinois’ 2017 budget will go to fund the state’s 5 pension plans. Is it any wonder that state services are falling by the wayside? Continue reading