More than half a million voters in collar counties voted in favor of blocking the General Assembly from creating a statewide property tax, despite there being no such tax proposed.
Comment: Notables include Michael Sacks — Rahm’s favorite finance guy and the one who brought us the idea of the $10B Chicago pension obligation bond, and Jim Edgar — currently making nobody-knows-how-much as Chairman of one of the companies that buys payables owed by the state of Illinois.
“Here’s the first step: Mend the fracture between establishment and conservative Republicans — Rauner supporters and those who backed his primary opponent, Rep. Jeanne Ives — and begin the rebuilding process. Find common ground and bury old grudges. Coalesce around new, fresh leadership in the House and Senate.”
When residents took to the polls Tuesday, they got to have their say on issues ranging from marijuana revenue — if it ever becomes legal in Illinois — to property tax exemptions. However, many of the referendums were advisory — the type of ballot measure often used by politicians to drum up support or even distract from other issues.
Governor-elect J.B. Pritzker may have celebrated his win over incumbent Bruce Rauner, but his resulting hangover will last for his entire term. Pritzker’s campaign promises for more spending and higher taxes will set him up for failure. Combine that with the mess Illinois is already in and Pritzker could see the state collapse around him. Call it the winner’s curse.
That’s what analyst Ted Dabrowski of Wirepoints.com — drawing upon data from Moody’s Investors Service — calculates is owed by each Chicago household to pay for the city’s crushing public worker pension debt.