Day: July 2, 2019

Only in Illinois: Ultra-rich communities like Kenilworth want TIFs

July 2, 2019 2 Comments

In no sane world does AAA-rated Kenilworth need a TIF to redevelop its business area. But if Kenilworth can get away with creating a TIF anyway, then every community in the New Trier area can justify having one, too. That would have serious fiscal consequences for the funding of school districts and other governments down the line.

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Illinois’ gas tax hike: It’s going to hit more than motorists – Chicago Tribune

July 2, 2019 1 Comment

The increase in the state’s motor fuel tax — from 19 cents a gallon to 38 cents — will hit a lot of consumers, not just those who own vehicles. Businesses are just now working through how they’ll pay for it, but the early read is that, like most things, their increased costs of doing business will trickle down to customers. Garbage haulers, florists, food delivery and more.

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Pension solutions hard to come by – Editorial – News-Gazette

July 2, 2019 No Comments

However unrealistic Lightfoot’s proposal for a state bailout may be, it is helpful in one disturbing respect. It reveals just how difficult the city and state’s pension underfunding problems are.

At the same time, Pritzker has no real appetite to address the state’s pension problems. After all, it was just a few months ago that Pritzker proposed skipping $800 million-plus in required pension payments for the 2019-20 budget.

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