Illinois Lawmakers Thumb Noses at Constitution to Impose New Taxes – Wirepoints
June 9, 2026
12 Comments
A mess of uncertainty and litigation is sure to follow.
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With $162 billion more from taxpayers, couldn’t you deliver a few bond upgrades, too
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Moodies is in on the whole scam if they raise Illinois rating. The rating agencies are now the taxpayers worst enemy. Who would have guessed that blatent Ponzi scams can be ignored by rating agencies.
The way this should be done is:
Step 1, the general assembly passes legislation that allows for municipal bankruptcy
Step 2. The state petitions the federal Government to allow State’s to declare bankruptcy (this does not have to go anywhere, it is a gesture of intent, unlike municipal bankruptcy which needs to become a thing)
Step 3, now offer a pension buyout that is abut a 60% haircut. I bet you will have many takers once the stage is set properly.