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Summary and audio linked here.
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.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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IllinoisPolicy.Org: An investigation found $4 billion in funds to be doled out by politicians at their discretion, with Gov. J.B. Pritzker controlling half of it. The extra pork was packed into Illinois’ $45 billion infrastructure plan, including $144 million for Madigan friends – some who never asked for it….
Looked up the definition for Failure in Merriam Dictionary. Entry said see J.B. Pritzker
Oh thank you JB for putting an extra $20 in my pocket. Meanwhile his left hand is stealing my wallet. Typical.
1) Raise gas tax significantly
2) Cut gas tax slightly
3) Market tax cut as win
Sounds like his normal plan – create a crisis; solve crisis; take credit.
$300 is next to nothing but I would like some thoughts if raising the senior and homeowners deductions could work. Many seniors are having a hard time just paying property taxes let alone the rising costs of everything. If the senior deductions were increased taxing bodies in Ptell counties (38 out of 102) would not lose anything because the tax rate would be raised a little to compensate. Regardless something more drastic needs to be done. Even if my taxes would be cut in half I still would be around 2% of value or almost 4 times more than Colorado… Read more »
Pulled the figure out of his you know what.
Wow, a self imposed austerity plan. Who’s programs will be sacrificed for lack of tax dollars?
And to think some people (voters) believe his drivel.
Just another PR stunt these tax breaks do absolutely nothing.
Wow, a $300 property tax rebate. We saved $10K per year by moving from IL to SC. But those IL lemmings are gonna think $300 is great. And 1% on food when inflation is 7%?
They should challenge JB to make it permanent.
JB just undermined his entire Fair Tax proposal.
His flip-flop on taxes for the plebians shows that he is a little worried about his reelection. His internal polls must be devastating if he’s taking drastic action like this. A democrat offering to cut taxes to fight inflation? What world do we live in now? But of course, these tax cuts are nothing and everyone knows it. A 1% reduction in grocery taxes means my bacon will cost $8.00 lbs instead of $8.08. Does he really believe that mere pennies will satisfy the plebians? As a billionaire, he knows the value of a penny, right? And the suspension of… Read more »
Desperate measures for a desperate person.
Fixed the headline for you:
“In 2019, Failed Governor Pritzker Raised The State’s Regressive Gas Tax 100 Percent — With Automatic Increases Every Six Months — Saddling Illinois Drivers With Gas Taxes Higher Than Almost Every Other State In The US — Now That Democrats In Illinois Are Under Fire — For Turning The State Into An Unflushed Crime Toilet — Pritzker Offers A Fake Tax Relief Program To Change The Subject — Including A Temporary Freeze On The Automatic Gas Tax Hikes – Crain’s Chicago Business — HOW ABOUT REPEALING THE GAS TAX INSTEAD”
You’re Welcome