Illinois is experiencing a severe fiscal crisis caused by years of fiscal mismanagement and recently, two years without a budget. Millions of residents of all ages suffered through the lack of depleted programs and services.
The numbers are astounding; $6-$8 billion unpaid bill deficit; $3.2 billion structural deficit; $133.5 billion in unfunded pension deficit. Despite two consecutive years with a budget and an increased flat income tax rate, we are nowhere near out of the woods. Illinois has a long way to go until state finances are restored, service providers are paid, vulnerable citizens receive needed services, municipalities are supported, higher education funding is not threatened and the state’s debt burden is not hanging over everyone’s head.
Enough is Enough! Illinois politicians must make fixing Illinois’ finances their number one priority. Permanent, comprehensive, equitable solutions must be implemented that restore Illinois’ fiscal health, provide the services Illinoisans need, and ensure a bright future for our children and grandchildren.
Illinois' structural budget deficit
Backlog of unpaid bills exceeds $6.75 billion
Illinois' long-term debt; Worst in nation by $80B
Unfunded public pension obligations exceed $133 billion
Propelled solely with Democratic votes, the Illinois House Monday approved a proposed constitutional amendment for a graduated state income tax. By a 73-44 vote, the House approved the amendment for the November 2020 ballot when voters will be ...
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Landing Gov. J.B. Pritzker a huge win, the Illinois House — along strictly partisan lines — on Memorial Day approved a November 2020 ballot question that will ask voters if they wish to change the state’s income tax structure from a flat tax to th...
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Illinois voters will get to decide the future of the state’s income tax. Democrats on Monday approved a measure to put a graduated income tax on the ballot next fall. Flexing their supermajority, Democrats voted for a measure that would elimina...
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Many seniors in Chicago worry about being able to stay in the city, according to a recent survey of registered voters ages 50 and up. The survey was commissioned by the Illinois branch of the American Association of Retired Persons. Forty-four ...
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There’s no doubt Illinois is in a financial mess. But the proposal to fix it offered up this week by the Civic Committee of the Commercial Club of Chicago—senior executives from the Chicago area’s leading employers—shows little regard for Illinois...
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The Illinois Capitol breathed a sigh of relief this summer when Republican Gov. Bruce Rauner and the Democratic-controlled legislature agreed on a state budget. But most Illinois voters say they’re not sure the deal will solve the state’s $1.2 bil...
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