State ends fiscal year with record $50.7 billion in base revenue, sparking small surplus – Capitol News IL

In recent years, the state has dedicated surpluses to paying down long- and short-term debt, making pension payments beyond the amounts required in law and providing one-time temporary tax relief. Gov. JB Pritzker indicated he’d continue to be cautious when considering spending priorities for one-time revenues, echoing his budget office, which noted that revenues have fluctuated wildly from month to month in recent years.
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Freddy
2 years ago

I think our lawmakers are demon possessed and need a mass exorcism!
Abortion-Transgender-Drag Queens in libraries-weed-transitioning surgeries for children-gambling-wokism seems to be the priority.

Riverbender
2 years ago

Quite a misleading headline considering the liabilities in the underfunded pension funds. To be sure Pritzker will be touting his great accomplishment reflected in the headline that, like everything in Illinois, is clouded by the usual smoke and mirrors

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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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