Illinois’ financial decay isn't just happening at the top, it has likely spread to your community, too. Households from Peoria to Harvey and from Alton to Rockford are seeing property values fall, city populations shrink, tax burdens jump and incomes stagnate.
On Monday, the Illinois House of Representatives voted to amend the Illinois Constitution by adding progressive income tax language. The amendment passed 73-44-1 on party lines. It will now end up on the ballot next year for all Illinoisans to vote on.
Chicagoland’s political elite know exactly how to pass the property-tax buck onto everyone else. They use their powerful connections to cut their own property tax bills and push the costs onto other unsuspecting residents. And that’s left many lower-income homeowners footing ever-larger tax bills.
If you’re an ordinary Illinoisan, you may be tempted to support Gov. Pritzker’s plan to change Illinois’ flat tax structure to a progressive one. He’s promised to lower your taxes if you’ll support the switch.
Illinois Gov. J.B. Pritzker got a warning of sorts from Moody’s ahead of his first budget address. The rating agency’s most recent report highlighted the usual crises Pritzker must tackle: ballooning pension debts and chronic budget deficits.
Governor J.B. Pritzker has made his position clear on pensions: No reforms. Not necessary. Just pay them. Nobody in the Democratic party, which holds supermajorities in both the House and the Senate, has voiced any dissent.
While the request is being downplayed as “symbolic,” it reveals just how out of touch education officials are from the realities facing Illinois and its residents, like the state’s crumbling finances, punishing tax bills and the increasing flight of Illinoisans.
A lethal combination of rising property taxes and stagnant incomes has forced many Illinoisans to rethink their relationship with their state. Families have done the math, whether they’re in the struggling south suburbs of Chicago or the affluent North Shore, and they’ve decided to leave Illinois behind.
You can trust public pension apologists to deflect any critique that calls out the failure of defined benefit plans. Unsurprisingly, their response to a recent Wall Street Journal editorial highlighting Wirepoints’ research was just that – deflection via misdirection and victim playing.
Illinois media is widely reporting that no news on Illinois’ budget negotiations is good news – that a quiet battleground in the statehouse means all is well. Especially after a nasty near three year impasse between Gov. Bruce Rauner and House Speaker Mike Madigan.
Glance at the list of the Civic Federation’s Trustees and you’ll see a collection of Illinois corporate titans. Many of the 16 men and one woman are CEOs, heads of private equity, chairs of boards, investors or hugely successful entrepreneurs.