Health & Fitness

Cullerton backs pension compromise, vote possible this month

PROMISE FOR PENSION REFORM? Senate President John Cullerton is getting behind a pension reform compromise bill being hammered out by the General Assembly's special, 10-member conference committee that has been working on a bill since June. It'll save $138 billion over the next 30 years and bring the state's five pension funds to full funding. That's less than the $163 billion House Speaker Michael Madigan's defeated bill would have saved, but a lot more than Cullerton's original bill. The new bill could come up for a vote when the General Assembly returns to Springfield Oct. 22. Despite Cullerton's backing, there's no guarantee this bill would pass. I've got details in my blog post today.

SOUND OFF We haven't seen the bill yet, but the compromise package Cullerton supports shows promise. As you'll learn if you read the post linked above, however, opposition/skepticism already is brewing. A thorough debate is always healthy, but in the past we've seen lawmakers on both sides find convenient excuses to oppose various pension reform proposals. Now is the time to let your representatives in Springfield, along with Gov. Quinn and the four legislative leaders, know that any bill MUST bring adequate savings to get Illinois back on sound financial footing while also ensuring the health of the pension systems for the employees and retirees who depend on them. Our Sound Off tool makes it easy to send that message -- in your own words or in a message already provided. If you haven't used it yet, this is a great time to try it out. Click here.

THE BIG LIST Our lists on Illinois property taxes have been extremely popular in the past few weeks. Today we have our biggest list ever: Property tax rates for all 102 counties in Illinois. We've computed the rates per $100,000 in property value to make it easy to see how much you'd pay if you lived in the next county over. Sure, property tax bills can vary greatly depending on the school district in which you live (among other factors), but this gives you a basic idea. Have fun with it!

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TAX TALK While taxes are on your mind, remind your legislators that Illinois has a day of income tax reckoning on Jan. 1, 2015. Our income tax is scheduled to fall to 3.75 percent that day. Will it? Should it? We need to know a plan before 11:59 p.m. on New Year's Eve 2014. The uncertainty is among the factors inhibiting business and job growth in Illinois. Send that message to your representatives in Springfield, Gov. Quinn and the four leaders of the General Assembly. Click here to send a tax message using Sound Off. 

Find out what's happening in Lake Zurichwith free, real-time updates from Patch.

FRIDAY FIVE Here's are the top Illinois headlines as the weekend approaches:

  • 5. A proposed high-speed rail line connecting Chicago to St. Louis would cost at least $20 billion. And it would be up to the state of Illinois to fund it. (Crain’s Chicago Business)
    4. Bill Brady doesn’t fear the Bruce Rauner money machine and insists that he, and not Rauner, is the leader in the GOP gubernatorial race. (Chicago Sun-Times)
    3. The $138 billion pension compromise backed by John Cullerton faces an uphill battle. (State Journal-Register)
    2. Opinion: Archer Daniels Midland’s tax break request is modest and underscores the need for state lawmakers to make Illinois competitive again. (Chicago Tribune)
    1. Gov. Pat Quinn will veto any legislation with special tax incentives for Archer Daniels Midland. (Associated Press)

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.


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