A new Chicago financial report shows the city’s total unfunded liabilities have jumped by over $17 billion, growing to nearly $24 billion in 2015 from $6.5 billion in 2014.
In joining the Chicago Bulls, former Miami Heat star Dwyane Wade is trading Florida’s 0 percent personal income tax for Illinois’ 3.75 percent rate, a choice many out-migrating, middle-class Illinoisans cannot afford to make.
More scrutiny from property owners means more money in the pockets of certain members of Illinois’ political elite, including House Speaker Mike Madigan.
A taxpayer bill of rights would put checks on politicians eager to hike taxes in one of the nation’s most over-taxed cities.
The Illinois Labor Relations Board on July 7 denied Gov. Bruce Rauner’s request to expedite contract-negotiation impasse proceedings between the state and AFSCME. Thus, impasse proceedings continue to drag on, giving the union more time to prepare for a potential strike, costing state taxpayers an additional $35 million to $40 million per month in AFSCME worker health benefits, and impeding progress on reining in the state’s out-of-control spending.
Illinois’ June WARN report shows 600 mass layoffs for the state in June, with 44 jobs lost in manufacturing, an improvement over May’s 1,300 layoffs and 500 manufacturing job losses.
AFSCME is demanding pay hikes, better health care coverage and pension benefits over a new, four-year contract, which would cost state taxpayers $3 billion more than what the state is offering.
Madigan’s stated concern for the middle class rings hollow given that his own plan to boost the state’s fiscal health consists solely of income-tax increases, which would directly reduce the wages and standard of living for Illinoisans.
Illinois entrepreneurs face myriad regulations that impede starting or running a business. Compliance with those regulations is costly; more importantly, it is almost impossible for entrepreneurs to know every regulation that affects their businesses. The uncertainty of not knowing the law creates a regulatory minefield and takes away opportunity for Illinoisans.
Headlines in June show why Chicago is considered one of the most corrupt cities in the world.
More than a year without a contract, the state’s largest government-worker union is requesting unreasonable and unaffordable perks, even though the governor has already offered several extravagant benefits.
Most states have far outstripped Illinois on the number of jobs recovered. And even worse, Illinois has also lagged in the quality of jobs recovered. Illinois was the 37th state to recover and match its pre-recession jobs count. But there are still 110,000 fewer Illinoisans working today than before the recession began.