The $1.5 billion question: How will Chicago pay for Lightfoot’s CTU deal? – Crain’s

That's the five-year, high end estimate from the CPS budget office. “The union won the strike. They absolutely won,” says Paul Vallas, a former CPS CEO who was one of Lightfoot’s rivals in the February mayoral election. “It’s going to be impossible for them to come up with that much dough without major tax increases if (Gov. J.B.) Pritzker does not fully fund the state’s new school-aid formula.”
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Andrew Szakmary
4 years ago

What really struck me was the deal teachers got on their health insurance premiums. No increase in employee premiums for 3 years, then 1/4 of 1% in year 4 and 1/2 of 1% in year 5. This is almost unbelievably generous in the current environment. I work for a very well-endowed private university and am very pleased with my health care plan overall, but even we typically get hit with a 5-6% premium increase each year, combined with higher deductibles and copayments. Is it wrong of me to suggest that one reason pensions are underfunded is because too much tax… Read more »

Illinois Entrepreneur
4 years ago

Well yeah, Lightfoot got rolled. When you create no leverage and have zero political will to oppose a public employee union, what do you think will happen? it is amazing to me that whenever “revenue” is contemplated everyone points to the default unicorn of “state progressive income taxes.” Like that is some kind of panacea for EVERY single deficit that state and all its municipalities have. Wirepoints has pointed out numerous times that the gains from that tax have already been promised away several times over. No one seems to notice but the people here on this site. At this… Read more »

Willowglen
4 years ago

I consistently ask progressives if they think higher marginal taxes rates are exogenous to overall economic productivity. I consistently am met with a blank stare, or a murmur that is is good to tax the rich. But of course my question goes unanswered, and the group queried includes educated people. So yes smart money won’t stick around with higher tax rates, but there is a cadre of educated people who will never entertain the thought.

Freddy
4 years ago

Higher tax’s of course! The real questions should be. What SHOULD the per pupil expenditure amount to? What $$$ figure educates a child ? $20K-$30K-$50K. There is no upper limit according to state law but has a minimum of about $6,500. School districts like the no limit figure but taxpayers like the $6,500. Home schooling costs about $600 plus whatever the stay at home parent loses by not working but that is by choice and even they have to pay public school tax’s thru property. A comparison of local private vs public costs should be explored. Here in Rockford approx… Read more »

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A statewide concern: Illinois’ population decline outpaces neighboring states – Wirepoints on ABC20 Champaign

“We are not in good shape” Wirepoints’ Ted Dabrowski told ABC 20 Champaign during a segment on Illinois’ latest population losses. Illinois was one of just three states to shrink in the 2010-2020 period and has lost another 300,000 people since then. Ted says things need to change. “It’s too expensive to live here, there aren’t enough good jobs and nobody trusts the government anymore. There’s just other places to go where you can be more satisfied.”

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