-- Connecting the dots between our economy, government and business --
A blended 401(k)-style retirement system was suggested in January as part of a landmark study by the Military Compensation and Retirement Modernization Commission and has sparked wide-ranging debate among servicemember and veteran groups.
From Scott Stantis, who is always superb.
By: Mark Glennon* You might think Illinois would value the presence of venture capital funds, hedge funds, real estate funds and private equity, which is one of its major assets. A bill has been introduced in Springfield to slap a special 3% annual tax on the managers of those and any other investment vehicles that have their principal places of business in Illinois and have at least $10 billion under management. It’s sponsored by Rep. Christian Mitchell (D-Chicago) and is in the form of an amendment to a bill (HB0670) sponsored by House Speaker Michael Madigan. The
Public school teachers and their unions may be next, as Gov. Bruce Rauner seeks to loosen requirements on collective bargaining dues.
Details on the numbers.
Madigan has become a wealthy man by operating a law firm that appeals Cook County property tax assessments. Last year, he disclosed that he has earned more than $1 million a year in a job that’s all about political connections. But it’s really about power.
The Civic Federation of Chicago is generally regarded as pro-business.
Rahm’s challenges include less-than-honest data from the Chicago Teachers Pension Fund, a virtual subsidiary of the American Federation of Teachers’ Chicago Teachers Union, which continues to offer on its woeful fiscal condition.
More than a dozen of Chicago’s fast-growing technology companies collectively committed to hiring nearly 1,000 new employees by the end of 2015.
The bill refuses to recognize manufacturing reality. A vehicle assembled in a foreign country, say Mexico, may contain hundreds of American-made parts.
As we head into the final innings, the box score indicates the General Assembly is playing “small ball”—moving ahead on bills aimed at eliminating a few more unnecessary units of government, expanding transparency, increasing civic engagement, and improving the criminal justice system.
Comment: The Tribune had the right word describing these cuts: Consequences.
A plan to financially reward Exelon Corp. for producing no-carbon energy and potentially save three Illinois nuclear plants from closure would cost ratepayers $1.6 billion over five years.
Rep. Chris Welch said his proposal puts the charter school decision where it belongs, in the hands of locally-elected officials.
By: Mark Glennon* Since the ‘B’ word is now being spoken in Chicago and other Illinois cities, here are some key things to keep in mind as the debate about bankruptcy for Illinois municipalities emerges: • First, Springfield has not yet authorized its towns, cities, counties and other local units to file bankruptcy, though a bill has been introduced to do that by Reps. Sandack and Ives. Only municipalities in states that have authorized bankruptcy can file under the Federal Bankruptcy Code. Chapter 9 of the Code is for those municipalities. (Our primer on that from two years ago is
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