According to the state’s most recent projections, Illinois needs to dedicate nearly $4.9 billion more on an annual basis to the five state-run pension plans in order to make an actuarially sufficient contribution and begin paying down the state’s unfunded pension liabilities. The state is also projecting a base general funds deficit of more than $1.4 billion in the upcoming 2026 fiscal year.
Sounds about right. Illinois and Chicago are legendary in drastically overestimating or underestimating; whatever furthers their far-left cause.
Ex Illini
1 year ago
The millionaire tax is just like all the other taxes that were enacted supposedly to cure an ill, but were siphoned off for pet projects and general fund use. How about the lottery, which was for education. That didn’t go very well based on current CPS budget shortfalls, not to mention your sky high property taxes due to school district costs. Remember the tollway charges, which were only supposed to retire the bonds used to fund the construction. Not only didn’t the tolls never get close to going away, they were doubled by Pat Quinn to fund perpetual work for… Read more »
Yeah, it has no hope of producing much of any impact on our lives. It is a ploy, a shiny thing for the masses to focus on, with this bill, they are telling us who to blame for their bad decisions. With Illinois every day you say to yourself, “wow, can’t get much worse”…then it does.
Hello, Indiana!
1 year ago
Hmm.. and making up the shortfall will be the next tax bracket down, all the way to the underserved that don’t pay taxes anyway.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
Sounds about right. Illinois and Chicago are legendary in drastically overestimating or underestimating; whatever furthers their far-left cause.
The millionaire tax is just like all the other taxes that were enacted supposedly to cure an ill, but were siphoned off for pet projects and general fund use. How about the lottery, which was for education. That didn’t go very well based on current CPS budget shortfalls, not to mention your sky high property taxes due to school district costs. Remember the tollway charges, which were only supposed to retire the bonds used to fund the construction. Not only didn’t the tolls never get close to going away, they were doubled by Pat Quinn to fund perpetual work for… Read more »
^^ 1000000000000000000000000 +++++++++
Yeah, it has no hope of producing much of any impact on our lives. It is a ploy, a shiny thing for the masses to focus on, with this bill, they are telling us who to blame for their bad decisions. With Illinois every day you say to yourself, “wow, can’t get much worse”…then it does.
Hmm.. and making up the shortfall will be the next tax bracket down, all the way to the underserved that don’t pay taxes anyway.