-- Connecting the dots between our economy, government and business --
Will Illinois cities be forced to choose between making pension payments and ensuring the safety of their citizens? That was the question Quaid asked Ted on the WTAD News Round Table.
All Peoria property owners will receive another bill in October. The city needs $1.2 million by the end of the year to fund police and firefighter pensions.
(Their headline, not ours.)
Democrats have been speculating in recent weeks about the possibility of the economy falling back from recovery into recession and its adverse impact on President Donald Trump’s re-election bid in 2020.
But Democrats, at least those in Illinois, might want to reconsider what they wish for because a deteriorating economy would have a devastating impact on a financially distressed state like Illinois. For starters, a recession would reduce revenue at all levels of government.
Harvey was the first domino to run afoul of Illinois’ pension intercept law. North Chicago was the second. Now it’s East St. Louis’ turn.
Our condo was just off Michigan Avenue facing east, with a view of the lake and the Bean. One day my husband said “We need to sell this condo now before property taxes go up and we lose money on it.” I thought he was kidding. He wasn’t. We bought a to-be-built house in Las Vegas in October 2014, moved into that house in September of 2015, and the condo closed in December of that year.
Our cost of living has gone down 40%. Our current property taxes are 1/3rd of what the condo’s taxes currently are. We
Progressive aldermen are teeing up their proposals to plug the city’s $838 million budget hole, including a $35 head tax for businesses with more than 50 employees, asking “wealthy nonprofit organizations” to begin making payments to the city and boosting the hotel tax.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
