Gov. Bruce Rauner believes House Speaker Mike Madigan practices "legislative extortion," hurting the state in order to advance his own agenda, according to remarks Rauner made on a Chicago radio show recently.
A penny-per-ounce tax on sugary and artificial drinks has been put on hold by a circuit judge who issued a temporary restraining order requested by the Illinois Retail Merchants Association and other grocers, according to ABC 7.
Mike “Mish” Shedlock, a senior fellow at the Illinois Policy Institute and financial adviser at Washington state-based Sitka Pacific Capital Management, has independently confirmed that Chicago’s police pension is poised to be broke before 2021.
The Fraternal Order of Police Lodge No. 7, the Chicago Police Department union, responded to projections estimating the Policemen’s Annuity and Benefit Fund of Chicago will require a taxpayer bailout to pay for retiree benefits in four years.
Without a taxpayer bailout, Chicago’s police pension fund won’t have enough money to pay benefits to retirees in 2021, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.
Traditional news outlets have been resorting to name-calling and disparagement because they fear their way of controlling the narrative is dying, an Illinois Policy Institute writer said on a radio show recently.
Taxpayers in the the City of Chicago's seventeen wealthiest zip codes would pay an additional $473 million in state income taxes if a tax hike measure passed by the Democrat-controlled Illinois State Senate becomes law.
The Chicago Teachers' Pension Fund (CTPF) paid out $1.5 billion last fiscal year, mostly on benefits to retirees. But it only earned $7.8 million on its investments, according to a filing it made with the Illinois Department of Insurance.
The Chicago Public Schools (CPS) have blown their annual budgets in 15 of the past 15 years by a collective $6.6 billion, amassing debt to continually increase spending on operations while district student enrollment has steadily fallen.