Day: April 28, 2024

True public cost of Bears stadium would be billions more over time – Chicago Tribune/Yahoo News

Under the Bears’ proposal, the 2 percent city tax on hotel stays would be used to continue paying stadium-related debt for another 40 years. “That’s a very long time for an asset that typically doesn’t last 40 years. It’s one thing for Washington, D.C., to sell century-long bonds for their sewer system, because that’s going to last. But a stadium — to tie up taxpayer dollars for 40 years is a massive bet on this being a good idea,” said Matt Fabian of Municipal Market Analytics.

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COVID-19 Fraud Enforcement Task Force Releases Report on Pandemic-Related Fraud – American Bar Association

Senators Gary Peters (D-MI), Dick Durbin (D-IL), and Ron Wyden (D-OR) introduced legislation that would allocate $300 million to triple the number of COVID-19 Fraud Strike Force teams, increase the Program Fraud Civil Remedies Act (PFCRA) cap to $1 million, and provide $250 million to empower the Small Business Administration and Department of Labor Offices of Inspectors General.

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Does The Illinois Constitution Matter Anymore? – Assessors Taxing Portable Sheds – Illinois Leaks

Numerous taxation rulings have subjected storage sheds to taxation when they become permanently fixed to a foundation, utilities installed, etc., however now, across the state in numerous counties, portable sheds that are not in any way fixed to a foundation and have no utilities are being subjected to property taxation based on their size even though such a factor creates a whole host of problems as it relates to equal protection.

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Chicago Bears told to ‘pay for their own damn stadium’ after proposal has taxpayers footing $2 billion – FOX News

“There’s not a lot of information necessary to say one of these (plans) actually is viable, or whether it’s a way to take us to the cleaners when we’re already carrying hundreds of millions of dollars of debt for the last time we did something like this,” said Joe Ferguson, of the Civic Federation. “I think Gov. Pritzker has spoken to this exactly right, with a real wariness about public funding of sports stadiums. We need to see reliable, thorough revenue projections for this before we can even open the conversation.”

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Civic leaders: Time for Illinois to pass a sensible Tier 2 pensions fix – Chicago Tribune*

Derek Douglas, Joe Ferguson and David Greising: “It can be tempting to write off Illinois’ pension challenges as mind-numbing fiscal issues. But history shows that vigilance is necessary when Springfield lawmakers start talking about pension reforms. If lawmakers make matters worse — as an exorbitant Tier 2 ‘fix’ certainly would do — it would be an expensive step backward that our state cannot afford.”

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