Michigan introduces 401(k)-style plan for teachers
Michigan introduces 401(k)-style plan for teachers
With the successful passage of 401(k)-style pension reform in Michigan’s state legislature, Illinois lawmakers should examine their own growing pension crisis and pursue bolder reforms to stabilize the state’s finances.
By Ted Dabrowski, John Klingner
What’s a junk bond and why Illinois will be America’s first “junk” state
What’s a junk bond and why Illinois will be America’s first “junk” state
Illinois’ bonds are currently priced like they are junk-rated.
By Michael Lucci
Powerball, Mega Millions to drop Illinois by June 30 due to budget crisis
Powerball, Mega Millions to drop Illinois by June 30 due to budget crisis
Popular lotteries may stop gambling on Illinois.
By John Kristof
Illinois’ neighboring states boast better credit ratings, economies
Illinois’ neighboring states boast better credit ratings, economies
Illinois’ credit rating spirals downward while residents flee to surrounding states with stronger economies and lower taxes.
By Kevin Angell
Illinois lawmakers pass legislation to create state-based workers’ compensation insurance company
Illinois lawmakers pass legislation to create state-based workers’ compensation insurance company
House Bill 2622 would create a state-run workers’ compensation insurance company using a $10M loan from the Illinois Workers’ Compensation Commission Operations Fund.
By Madelyn Harwood
7 reasons the Illinois Republicans’ budget plan fails taxpayers
7 reasons the Illinois Republicans’ budget plan fails taxpayers
The budget plan proposed by Republican General Assembly members would raise taxes by over $5 billion without enacting any significant spending reforms.
By Craig Lesner, John Klingner
Workforce dropout causes Illinois unemployment to fall slightly
Workforce dropout causes Illinois unemployment to fall slightly
A new report from the Illinois Department of Employment Security shows Illinois had a modest net gain of 2,400 jobs in May, but still has fewer jobs today than before the Great Recession began.
By Michael Lucci
Property taxes in northwest Chicago suburbs to spike by $560 on average
Property taxes in northwest Chicago suburbs to spike by $560 on average
Lawmakers need to enact comprehensive property tax reform to provide relief for overburdened state taxpayers.
By John Kristof
House Republicans’ 4-year property tax freeze fails homeowners
House Republicans’ 4-year property tax freeze fails homeowners
Local spending drivers need to be reformed to truly relieve taxpayers of Illinois’ highest-in-the-nation property taxes.
By John Klingner, Craig Lesner
House Republicans’ pension plan not the solution Illinois needs
House Republicans’ pension plan not the solution Illinois needs
Illinois needs to begin an end to its pension crisis by expanding access to a standalone 401(k)-style plan to all government workers; the new proposal by the House GOP does not accomplish this.
By John Klingner, Ted Dabrowski
Illinois companies announce more than 2,100 mass layoffs in May
Illinois companies announce more than 2,100 mass layoffs in May
1,120 of the jobs lost were in manufacturing and food processing.
By Brendan Bakala
Where have all the new homes gone?
Where have all the new homes gone?
Compared with Illinois’ pre-recession average, permits for new single-family and multiunit housing are down more than 60 percent.
By Austin Berg
Illinois Republicans’ budget plan hikes taxes by $5 billion
Illinois Republicans’ budget plan hikes taxes by $5 billion
The Republican plan hits Illinoisans in fiscal year 2018 with the same $5 billion-plus tax hike from the “grand bargain” plan that failed in May. That plan starts with a 33 percent income tax increase, and includes questionable new taxes on services such as Netflix, laundry services and more.
By Craig Lesner, John Klingner