Federal agency casts further uncertainty on Illinois’ credit card ‘swipe fee’ law – Capitol News IL

Two interim filings posted last week by the Office of the Comptroller of the Currency, an independent subsection of the U.S. Treasury Department, represent the latest twist in a two-year legislative fight. One of the filings specifically preempts the state’s first-of-its-kind Interchange Fee Prohibition Act, throwing the policy into further uncertainty by creating a second legal front and added pressure on state lawmakers amid an ongoing appellate court case.
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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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