IL Comptroller pleased with ‘vanilla’ budget – WGEM (Quincy)

Once signed into law, the new budget bills will allow State Comptroller Susana Mendoza to pay down the state’s pension debt quicker if the state takes in excess tax revenue. She currently can only legally pay what’s owed each month regardless of whether the state takes extra tax revenue. Beginning in the next fiscal year, she’ll be allowed to put all the extra dollars towards the state’s pension debt.
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The Railroader
1 year ago

Susana Mendoza’s mendacity typifies the Illinois entrenched political class. She correctly claims that Illinois obligations have been reduced a small bit but fails to mention that massive infusions of cash courtesy of Uncle Fed are responsible for this improvement. The cash spigot has been throttled back. Mendoza considers this ‘vanilla’ budget to be balanced even though it ‘requires’ around $1 billion in tax hikes on Illinois businesses. She also claims that these business tax hikes will miraculously skip over the middle-class taxpayers. What an amazing achievement. It is also a bold-faced lie. Businesses pay taxes not from cash beamed into… Read more »

Last edited 1 year ago by The Railroader
William Butler Hickok
1 year ago

She lies as she smiles at you, this type of politician is very dangerous.
Never turn your back to her.

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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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