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All 40 members of the House GOP were ready to support an extension of the program. “It is my hope that over the remainder of the year that the advocates for and against this will actually come together, sit at a table together and will come up with a remedy and we’ll whip the votes on both sides of the aisle and come to the speaker and to the (Senate) president and say, ‘This is my roll call. We have the votes. And let’s call this bill,’” House Republican Leader Tony McCombie said.
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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