Highlights from Ted’s interview with Tom Miller on Newsradio WJPF:
“Senate Democrats have asked for what’s been called a bailout by the New York Times and others. There’s lots of states that are going to be asking for support because of the Coronavirus, but Illinois went over and above the cost of the pandemic and asked for money for pensions, for money that was related to the pre-pandemic problems of Illinois.”
“The response from part of the congressional delegation was ‘No, you can’t use the pandemic as a cover to try to get monies for previous problems. Illinois’ pension problem, its budget deficit, its unpaid bills, it’s unemployment trust fund – all of them have always been very poorly run.’”
“If you look around the world, everybody’s trying to reduce taxes. Everybody’s trying to find a way to reduce the burden on ordinary citizens and companies. Governor Pritzker, meanwhile, is talking about a major tax hike in the middle of a pandemic. It’s just backwards to anything any normal economist would recommend for a place that’s already struggling like it is.
“People on Harmon’s side are unhappy he did this. But he’s floated the idea. He’s letting it percolate. He’s letting people know Illinois is in deep trouble and that its lawmakers want a bailout.”