Illinois passed a record-breaking income tax hike 3 years ago. Here’s where the money went. – Illinois Policy

The 2017 tax hike has not translated into more stable state finances or better services for state residents. Over $1.2 billion of the more than $5 billion in additional revenue has gone to servicing state pension and bond debt, roughly a quarter of the new money raised.

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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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