REFORM, REVENUE, TIME Chicago Mayor Rahm Emanuel came into office warning that the city needed to prepare for its "day of reckoning" on pension debt. But now that pension reform in Springfield has bogged down, Emanuel wants to push that day well into the future. This, of course, is how the state's pension crisis reached its current, epic proportions. There's also a whiff of bankrupt Detroit in this plan. And if the pressure is off in Chicago, you can bet it'll be off in Springfield. Madeleine Doubek discusses our chronic procrastination and its inevitable effect in a blog post today.
SOUND OFF FOR PENSION REFORM In three weeks, the Illinois General Assembly convenes for its fall veto session. We hear that a pension reform compromise bill is likely to be introduced then. We certainly hope so, and we hope it contains sufficient savings to restore health to the public pension system and get Illinois' finances (and, for that matter, Illinois in general) on the road to recovery. It's no mere coincidence that Illinois has both the most pressing pension crisis AND the nation's second highest unemployment rate (9.2 percent). You can send that message to your representative and senator in Springfield, along with Gov. Pat Quinn and the four legislative leaders, with our Sound Off tool. Click here!
SALES TAX POP QUIZ Quick: What's the sales tax in your county? Time's up! Click here and find the answer.
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SOUND OFF ON TAXES Yesterday we brought you the list of highest average property tax bills by county. (If you missed it,click here.) Our reliance on property taxes to fund pre-K-12 education has caused a lot of trouble historically. And as many of us face higher property taxes, we're also concerned about what will happen with the state's income tax in 2015, when the current, temporary 5 percent tax rate is scheduled to fall to 3.75 percent. Demand answers from your legislators on what they want to happen with the Illinois income tax in 2015. We don't think those who made a mess of the state's finances should come back to us to pay more to clean it up. Tailor your own message or use ours with Sound Off.
LAWSUIT REFORM "Here in Illinois, the cost of litigation is especially a concern for small businesses because Illinois is ranked the fifth-worst state in the nation for legal fairness. Costly lawsuits make it difficult for small businesses to grow and expand which in turn makes it even more challenging for the state economy to grow." So writes Travis Akin of Illinois Lawsuit Abuse Watch in an op-ed today that focuses on lawsuit-friendly Illinois putting the hurt on small business. Read it here!
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HEADLINES Here's what's making news in Illinois today as we begin the week:
4. If the government shutdown is short term, it should have little impact in Illinois. (Chicago Tribune)
3. A former Illinois Department of Corrections employee has been sentenced to 21 months in prison for embezzlement. (State Journal-Register)
2. An Illinois House committee will convene to discuss proposed tax breaks for Archer Daniels Midland to keep its headquarter in Illinois. (Associated Press)
1. State Rep. Dan Brady, R-Bloomington, has introduced a proposal to eliminate the Illinois State Board of Education. (CBS St. Louis)
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