Oh, the humanity.
Prediction: The grand bargain won’t make it through the full General Assembly. Perhaps a stopgap, partial budget will pass, but a downgrade of Illinois bonds to junk status likely will happen in June.
Without short-term borrowing or some other rapid cash delivery, officials said the district will fall far short of making the pension contribution.
At the same time, the state pension code doesn’t specify what course of action the fund could take in the event CPS doesn’t make the full payment.
CPS owes the fund roughly $716 million, though the district is expected to pay a little less than $470 million of that tab by the end of June.
State lawmakers’ latest bill not only forces a failed “evidence-based” education funding program on Illinois, but also bails out Chicago Public Schools.
Homeowners in many Chicago-area ZIP codes have yet to share in the recovery that is boosting values in hot city neighborhoods and a handful of suburbs.
In Cvent’s 2017 annual rankings of top convention cities, Chicago dropped to third place from the No. 2 spot in 2016.
Prestige Metals’ owner John Annessi made the call to move his business from northern Illinois to Wisconsin. The move was less than 10 miles. He says there are savings and the area offered business incentives, but it was more personal for him too, being a Kenosha-area native.
Democrats in the Illinois House on Tuesday attached their own list of demands to budget negotiations in Springfield. Top Madigan lieutenant state Rep Lou Lang, D-Skokie, said if Gov. Bruce Rauner continues to insist on workers’ compensation reforms and property tax freezes, they’re going to insist on a new business tax and an Obamacare guarantee.
At a head-scratcher of a press conference Tuesday morning, Democratic leaders in the House – not the top leader, mind you – made clear that they’re ready to “roll up their sleeves” and get to work with Gov. Bruce Rauner on finding common ground on a budget and structural reforms that Rauner has insisted be a part of any deal.
Illinois is home to the highest workers’ compensation costs in the region, and the weakest manufacturing recovery. New research details pain points and ways to fix the system while protecting worker safety.
Chicago aldermen reacted coolly Tuesday to Mayor Rahm Emanuel’s plan to tax downtown businesses, high net-worth individuals or both to dig the Chicago Public Schools out of a $596 million hole without state help.
Illinois used to see 45,000 new homes built each year. Bill Ward, director of the Illinois Home Builders Association, said crews are lucky to get a quarter of that in 2017. “The state of Illinois is 50th in the nation in new home construction,” Ward said. “And we’ve been in last place for the past five years.”
Algonquin Township Highway Commissioner Andrew Gasser fired the two sons-in-law of predecessor Robert Miller immediately after taking office, sparking a battle with the union that now represents his employees.
On Monday, the state released a list of insurers that responded to a request for proposals to be part of Rauner’s re-imagined Medicaid managed care program. In Medicaid managed care, private insurers administer Medicaid benefits, whereas the state administers benefits in traditional Medicaid.
Some Illinois lawmakers are demanding answers from the Department of Children and Family Services about recent child abuse deaths and new policies that push investigators to speed up abuse and neglect investigations.
Memo to politicians: If you want your op-eds read, don’t publish them behind a paywall.
Using a “market value” discount rate, just to keep Illinois pensions from sinking further into debt, the state would have to contribute “well over twice of what it actually contributed.” Chicago and Cook County are toast, too.

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