December 5, 2017 | Wirepoints

Next year, Danville residents and businesses may absorb major tax and fee increases if aldermen go for a plan that begins chipping away at the city’s massive pension debt, which has ballooned to more than $100 million. The plan includes a 10 percent property-tax increase, plus a jump in the monthly public-safety fee — from $96 a year to $267 for residents.

Why you should expect another budget impasse next year – Quicktake

December 5, 2017 No Comments

A whopping $3 billion budget deficit looms next year despite the recent tax increase, and that’s using the usual phony budget accounting that ignores growing pension deficits. See today’s article by my partner, Ted Dabrowski. He lays out in careful detail (he always does) why that $3 billion is a good estimate. The budget battle will begin in Spring for Illinois’s next fiscal year, which starts July 1. Will lawmakers vote for a $3 billion tax increase, cut spending or some combination? Good luck finding agreement on that because it will be an election year. And tempers will be inflamed

Normal, IL approves tax levy hike – Ciproud

December 5, 2017 No Comments

Comment: Normal, indeed. Stories like this are appearing routinely across Illinois.

Here’s where all that Illinois tech talent goes – Crain’s

December 5, 2017 No Comments

Roskam, Shimkus tapped by Speaker Ryan to negotiate tax overhaul bill – Chicago Sun-Times

December 5, 2017 No Comments

Tax hike fail: 2019 budget deficit to push $3 billion – Wirepoints Original

December 5, 2017 2 Comments

Illinois’ record-sized budget and its $5 billion tax hike haven’t solved the state’s chronic fiscal mess. The “balanced” 2018 budget has turned out to be anything but balanced. And new numbers show the state’s deficits will only get worse in fiscal year 2019.

Illinois: Land of Laggards – Opinion – Crain’s

December 5, 2017 No Comments

It been this way for decades. Where do we stand on three key measurements?

Illinois’ economic growth lags the rest of U.S. Illinois’ employment growth lags the rest of U.S. Illinois’ tax base is shrinking.

Day: December 5, 2017

Rauner: Pritzker ‘Worst Investor On The Planet’ – CBS Chicago

Stop griping, Governor, and make your case – Chicago Tribune

Mayors Sign Climate Charter at Chicago Summit; Obama to Speak – A.P.

College Illinois sales halted, program’s future uncertain – Crain’s

Manufacturers: Fed tax cut will be great, but Illinois must change to compete with neighbors – INN

Palatine OKs 3.82% property tax levy hike – Daily Herald

Canadian manufacturer to get $1.1M state tax break deal, local property tax breaks – IL Policy

Senate’s tax plan approval is news to Rauner – Chicago Tribune

Danville aldermen set to vote on property-tax, fee hikes – News-Gazette

Why you should expect another budget impasse next year – Quicktake

Normal, IL approves tax levy hike – Ciproud

Here’s where all that Illinois tech talent goes – Crain’s

Roskam, Shimkus tapped by Speaker Ryan to negotiate tax overhaul bill – Chicago Sun-Times

Tax hike fail: 2019 budget deficit to push $3 billion – Wirepoints Original

Illinois: Land of Laggards – Opinion – Crain’s

Chicago wants to shake COFINA comparisons ahead of securitization – The Bond Buyer/SourceMedia

Is Illinois Promising to Give Amazon All Its Workers’ Salaries for a Headquarters? – Chicago Magazine

Obama expected at mayors’ Chicago summit on climate change – A.P.