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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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So more aniti-business tax regulations, more taxes on commoners, a raise for the legislature and no reduction in union parasites or patronage mopes. Same as it ever was. Get out now tax donkeys, it won’t get better. This just encourages more businesses to flee, cut IL out of their operations and drives more taxpayers away accelerating the death spiral.
Nice article. Its like Springfield doesn’t even know that there is a financial problem. These crooks gave themselves a damn raise…they gave $5M for Chicago’s NASCAR event…why do tax payers in downstate Illinois or for that matter anywhere else in the state, want to pay for another Chicago event? They do not even acknowledge with their actions that there is a problem…
Even people in Chicago, who like NASCAR, think the Chicago race is ridiculously stupid. It’s not even a good road race. Maybe F1 would work, but not NASCAR. BTW NASCAR pulled out of Joilet and other tracks in Blue States because of the fake covid pandemic tyranny. This stunt of shutting down our central park area most of the summer is just a Hail Mary to lure them back.
Hmm…..looks like they may missed me on this one!
For guys like me who have no life but try and listen to all this bs—from JB news conference today(https://x.com/GovPritzker/status/1929190596247482672), he’s stating the transportation funding bill is not dead and is going to reappear in fall and taxing deliveries to fund (min 21:00 to 22:30) is not off the table as being a “broad-based” tax change he claimed he would veto. For some reason cap fax has only transcript I can find (https://capitolfax.com/2025/06/01/pritzker%e2%80%99s-post-session-press-conference/): Reporter: Governor, can you reflect on transit not getting across the finish line? And there was a proposal that was in the amendment yesterday that would have… Read more »
Some details from the article aren’t clear to us. “The attorney general’s office would get $116 million from the general fund…. as he engages in a growing number of lawsuits against the Trump administration.” Is this funding in addition to what he got the previous year? What is a “Direct service provider?” “The revenue plan amends state law to tax sales from all businesses that transact in the state, rather than only businesses with a physical presence in Illinois.” Is this not already the case? “The plan also eliminates a “safe harbor” exemption for businesses that move money outside the… Read more »
“…using DJTs-“One Big Beautiful Bill”/ +$40gs SALT cap lift as cover to tax, tax, tax.”
That is exactly where this is going.
The state does need more revenue so that makes sense.
“need more revenue” or “wants more revenue”?
Considering the budget still shorts pensions of the actuarial amount, I would say they need more revenue since no one is offering up where to cut $5 billion from the budget.
If they were judiciously trying to shore up pensions, I would agree with you PPF. They aren’t. The federal COVID windfall is all but gone – but they don’t want to stop spending.
essentially, the +$40gs SALT cap lift is going to be giant gift for public sector unions to feast from bankrupt Illinois, to bankrupt calf, etc….and everyone with 1/2 a brain cell knows it.
“One way, or another, I’m wanna get ya
I’ll get ya, I’ll get ya, get ya, get ya, get ya”
Nice article.
‘The state would also pause the final transfer of motor fuel sales tax revenue to the road fund in order to free up $171 million, according to the governor’s office’s estimate.’
Once again dog robbing the funds earmarked for roads and bridges. The way Pritzker and Democrats rob the motor fuel tax monies, either directly or indirectly, is unlawful.
“Robbing?” Do taxes on purchase of shoes go to fund sidewalks? Do taxes on purchases of bottled water go to fund public toilets? So why fund roads from motor fuel tax?
An amendment to the Illinois Constitution, adopted in 2016, prohibits the use of MFT revenue for purposes other than transportation costs.
What determines transportation costs? Do police that patrol the streets to ensure they are safe count as “transportation costs”? How about money for CTA? What about environmental issues from cars polluting? I’m not saying I agree with those interpretations but that will be an issue for the courts to decide.
Since this amendment can be interpreted very loosely, I would imagine that those funds will be used wherever they want until the courts tell them otherwise.