Will Illinois cities be forced to choose between making pension payments and ensuring the safety of their citizens? That was the question Quaid asked Ted this morning on the WTAD News Round Table.
Harvey and North Chicago were the first two cities to fall victim to the state comptroller confiscating part of their tax revenue to pay for failing pension funds. Now East St. Louis could be the third Illinois municipality to have part of the city budget intercepted to pay for pensions, and not city services.
Interview starts at 8:00
Read more about the intercept situation in East St. Louis and the broader downstate crisis:
- Third domino falls: Illinois Comptroller set to confiscate East St. Louis revenues to pay for city’s firefighter pensions
- Illinois’ financial decay spreads to cities across the state
- Harvey, the first domino in Illinois: Data shows nearly 400 other pension funds could trigger garnishment
- Beyond Harvey: Many Illinois municipalities running out of options
- Second domino falls in Illinois: North Chicago revenues garnished for pensions –
- Why a bankruptcy option for municipalities is essential