Wirepoints
Recent News About Wirepoints
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Rahm pitches scheme to stick his, your grandchildren with massive pension tab
Rep. Jeanne Ives (R-Wheaton) has joined the growing chorus of state lawmakers staunchly opposed to Chicago Mayor Rahm Emanuel’s proposed plan to borrow billions more as part of an overall scheme to stall the city’s soaring pension liability.
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From Prairie State Wire
Population falling, but Illinois government leaders agree to spend, borrow more
Illinois state government leaders say they will spend a record $38.5 billion and borrow an estimated $11.5 billion over the next year, according to a fiscal year 2019 budget plan approved by Gov. Bruce Rauner.
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WirePoints founder fears another tax hike coming down the road
Mark Glennon worries that the worst of Illinois’ crippling tax problems may not be over for already hard-hit residents.
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School funding bill seen as giving Chicago more room to deny, delay financial woes
The recently passed school funding legislation has given Chicago another shovel to dig itself deeper into debt, the founder of the financial news website WirePoints contends.
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Cook County move to recoup lost revenue from beverage tax called a bullying tactic
Cook County is going to court to try to recoup $17 million in tax revenue it says it lost because of a temporary restraining order of the county’s new beverage tax, but Wirepoints founder Mark Glennon is arguing that the county's move is a bullying tactic.
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Bad budget will backfire, Wirepoints founder contends
Mark Glennon of Wirepoints says the pain is only beginning
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Report shows 'true' accounting of pension liabilities more than double what governments say; Expert: debt is 'utterly absurd'
Financial expert Mark Glennon of Wilmette says in his analysis of a new study on state and local pensions that the options available to reduce the substantial obligations facing Illinois funds include amending the state constitution or going through federal bankruptcy.
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If budget hopes are scrapped, Illinois could become first 'junk' state
The chances that Illinois will reach a budget before May 31 and avoid seeing its bond rating lowered to the worst of any state in history are 50-50 at best, according to Mark Glennon, founder of the business and government website WirePoints told the Sangamon Sun recently.
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'Privilege tax' bills described as Illinois exit signs
Rather than bring in more money for the state, a pair of bills would probably drive more businesses out of Illinois, the founder of a financial website says.
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Bankruptcy law would help ease Illinois pension liability, expert says
The state’s ability to negotiate a better pension debt deal may rest with congressional approval of a state bankruptcy option, according to one financial expert.