Wirepoints’ Mark Glennon on AM560’s Morning Answer: Illinois Budget’s New Taxes Face Serious Constitutional Challenges
June 12, 2026
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Audio and summary linked here.
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A mess of uncertainty and litigation is sure to follow.
With $162 billion more from taxpayers, couldn’t you deliver a few bond upgrades, too
Anyone know what the pension amounts are? For how many years?
Many are worth over $3 million present value.
Maybe you should consider reading countless Wirepoints articles on that before waking everybody’s time on such a question. There’s a search tool in the upper left of the home page.
Public pensions have never been fully funded because the increase in taxes would cause a revolt among taxpayers. The city could also save a lot of money and gaming of the system by public employees by making the max pension amount 75% of their base salary, exclusive of overtime pay. Many public employees, with the support of their union, stack on overtime the year before they retire to drastically bump up their pensions, sometimes even doubling their pension. The federal government caught on to this back in the 1980’s and bases retirement pay on the base pay rate for almost… Read more »
TIME TO FILE FOR BANKRUPTCY