Other hikes likely even if ‘fair tax’ passes: Moody’s – Crain’s

Adopting Gov. J.B. Pritzker’s proposed graduated income-tax amendment definitely would help ease the state’s worsening fiscal crunch but wouldn't solve it, with other revenue raisers likely needed soon.

That’s the bottom line of a new report out today by Moody’s Investors Service that takes a look at the state of Illinois finances as the slow recovery from COVID-19 begins.
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someone
5 years ago

the Democrats solution is always a money grab–tax increase this or that. Why not cut taxes and see people put money into the economy?–Because that is toooooo simple a solution. The democrats like going behind peoples backs and putting money into the Democrats pockets.

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Mark Glennon on AM560’s Morning Answer: Chicago pension buyout plan mostly shifts debt rather than eliminating it, property tax surge doubles inflation over three decades

Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.

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