Chicago’s police pension bailout in the General Assembly's budget deal this summer could be derailed if the state continues to empty out as Illinoisans flee for better tax climates and opportunities elsewhere, a researcher for a fiscal advocacy group said.
Such is the lament of Mark Glennon, founder of WirePoints Illinois Financial News, when speaking to Chicago City Wire about the fiscal black hole that the Chicago Public Schools (CPS) system has apparently become.
Fiscal experts are warning that Chicago Public Schools (CPS) will be back for more once the revenue raised from yet another increase in property taxes disappears into the fiscal black hole that is the Chicago Teachers Pension Fund (CTPF).
Chicago Public Schools (CPS) should have already learned the lessons of poor financial management, Ted Dabrowski, vice president of policy at the Illinois Policy Institute, contended on a recent episode of "Illnois Rising."
You'll need to dig deep to pop for a soda in the Chicago area, according to the Better Government Association (BGA), which says the new Cook County beverage tax has made it one of the most expensive places in the United States for soft drinks.
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.
Before the recently passed budget, Illinoisans could at least point to their 3.75 percent state income tax rate as being relatively low, even if their property taxes are relatively high, a policy pro said on a Chicago-based radio program recently.
While every state around it continues to grow in population and prosperity, Illinois keeps shrinking under the strain of higher taxes and more regulations, Michael Lucci, vice president of policy for the Illinois Policy Institute, said in an article on the institute's website.