Fitch downgrades Chicago, cites Illinois Supreme Court ruling on pension reform
Fitch downgrades Chicago, cites Illinois Supreme Court ruling on pension reform
The city’s rating from Fitch is now just one notch above junk status.
Madigan’s middle class: Pain for the many, perks for the few
Madigan’s middle class: Pain for the many, perks for the few
Middle-class Illinoisans who aren’t employed by the government are suffering, but Illinois House Speaker Mike Madigan stands in the way of solutions.
Gold-plated pensions
Gold-plated pensions
Obey Madigan
Obey Madigan
Chicago area sees greatest population loss of any major U.S. city in 2015
Chicago area sees greatest population loss of any major U.S. city in 2015
Census data are sounding a warning signal that Chicago and Illinois policy leaders don’t necessarily want to hear.
Chicago telephone-tax hike should be eliminated in wake of pension ruling
Chicago telephone-tax hike should be eliminated in wake of pension ruling
In an effort to shore up pension debt, Chicago officials in 2014 adopted a pension-reform package that included raising the telephone tax. Though the Illinois Supreme Court struck down these changes, the tax hike remains.
Moody’s: Chicago pension-reform ruling means increased financial pressure, rapidly growing pension debt
Moody’s: Chicago pension-reform ruling means increased financial pressure, rapidly growing pension debt
The Illinois Supreme Court’s overturning of Chicago’s modest pension reform means Chicago faces higher pension contributions, rapidly growing pension debt and an increased risk of total insolvency for its pension funds.
When second chances come first: An Illinois program breaking the cycle of crime
When second chances come first: An Illinois program breaking the cycle of crime
Chicago pension decision silver linings
Chicago pension decision silver linings
Despite striking down a pension-reform package aimed at reducing Chicago’s pension debt, the Illinois Supreme Court opened the door for future legislative reforms.
Help save ridesharing in Chicago
Help save ridesharing in Chicago
Chicago aldermen, some of whom receive financial support from the taxicab industry, are looking to burden Uber and Lyft drivers with expensive chauffer’s licenses.
Preliminary jobs report: Illinois adds 18,100 jobs in February
Preliminary jobs report: Illinois adds 18,100 jobs in February
Illinois has finally recovered from the job losses suffered during the Great Recession, and its workforce continues to grow. But the state’s unemployment rate is also increasing, signaling that while the economy is recovering, it is still unable to meet the demands of a growing number of job seekers.
6 reasons why Chicago taxes will keep going up
6 reasons why Chicago taxes will keep going up
Even with the city’s record tax hike and massive borrowing, lack of reform means Chicagoans can expect to open up their wallets yet again.
Illinois’ gubernatorial veto procedures
Illinois’ gubernatorial veto procedures
The governor can exercise the veto power in four different ways: a total veto, an amendatory veto, an item veto and a reduction veto.
Illinois Supreme Court strikes down Chicago pension reform but opens door for other changes
Illinois Supreme Court strikes down Chicago pension reform but opens door for other changes
While striking down modest reforms to Chicago city-worker pensions, the Illinois Supreme Court has effectively given state lawmakers the green light on other avenues for pension reform.