Illinois state revenue projections cut by $800M after much weaker Tax Day – Illinois Policy

"The April 2023 revenues offer a clear warning about the state’s fiscal future. Experts had been warning Illinois could potentially be among the states facing a fiscal cliff once federal pandemic relief funding ran out. Now, it should be clear the state should not simply expect revenues to keep climbing while avoiding any reforms to the budgeting process, pension costs, or the general financial management of the state."
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fed up neighbor
2 years ago

Skipper the boats sinking , yes I know J.B

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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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