-- Connecting the dots between our economy, government and business --
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/tronc/VSD5XN5EW5DV7BAFV7NNEQS2CE.JPG)
Proposed as a way to combat climate change by capturing planet-warming carbon dioxide emissions at Midwestern ethanol plants, transporting the CO2 via pipeline, and burying it deep underground in central Illinois, the Navigator project was positioned to receive as much as $1.3 billion a year in federal tax credits. The company is still pursuing its $350 million carbon storage project in central Illinois, where it has acquired rights to store carbon deep below tens of thousands of acres of land.
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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER