The stopgap budget passed by the General Assembly provides six months worth of funding for government services such as road construction, as well as a full K-12 education budget for the 2016-2017 school year, property-tax-raising authority for Chicago, and more state funding of pensions for Chicago Public Schools teachers.
The Land of Lincoln is one of only seven states to impose harsh restrictions on the sale and possession of fireworks.
The stopgap budget compromise reached between the General Assembly and Gov. Bruce Rauner will fund government operations for the next six months and ensure that schools open on time in the fall.
Illinoisans face the highest median property-tax rate in the nation.
Until CPS passes necessary spending and pension reforms, giving any additional money to the system will only reward officials’ mismanagement and reckless behavior.
Budget gridlock in Springfield caused the Illinois secretary of state’s office to suspend mailing vehicle-registration-renewal reminders in October 2015; as a result, the state took in $5.24 million more in fees for late license-plate renewal between January and June 21, 2016, than it did during the same period in 2015.
Tax-hike proponents claim there’s no way to fix Illinois’ chronic budget problems without more money. They want Illinoisans to believe the state’s tax revenues simply aren’t enough to cover the cost of government. But tax revenues aren’t the real problem. Illinois’ perennial budget crises stem from the state’s persistent overspending and misplaced spending priorities. The...
The New Hampshire legislature has passed an overhaul of asset forfeiture laws to protect rights of innocent property owners; Illinois should do the same.
AFSCME balks at Gov. Bruce Rauner’s proposal that state workers chip in more for their Cadillac health insurance.
Pension funds aren’t immune to the volatility of the stock market. Even before Brexit, Moody’s warned that low investment returns are already putting Chicago’s pension funds at risk. A major stock market correction or another recession just might put Chicago and CPS over the edge if their already-underfunded pension systems collapse.
The pension problem was created and has been fueled by weak politicians – men and women who decided their next elections were more important than the next generation.