Tag Archives: bills

Is an Illinois Flat Tax a Fast Track out of Debt?

It’s no secret Illinois is in a financial bind: A stack of unpaid bills totaling more than $8 billion is proof. Some people say the state would dig itself out quickly if it switched from a flat, 5-percent income tax for everyone to a progressive tax in which the wealthiest Illinoisans pay a higher percentage. But opponents say this is just a ruse for a huge tax increase that will only feed lawmakers’ desire to spend beyond the state’s means. We’ve got both sides at rebootillinois.com today. What do you think?

 

 

SJR: With Supermajorities Comes Super Responsibilities

With supermajorities in the state House and Senate, Illinois Democrats now have super responsibilities, says Springfield’s State Journal-Register. They may have won the exclusive right to make some of the toughest decisions in state history — like reforming the pension system and figuring out how to pay $8 billion in unpaid bills on a $33 billion budget. And Dems alone may live with the consequences. “(I)f the GOP decides to sit out, the Democrats have earned the right and responsibility to make those decisions on their own, and whatever happens now will be on them.”

 

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Illinois’ Bills

“The state has perennially pushed its bills off to the future…Illinois has been doing backflips on a high wire, without a net.” State Budget Crisis Task Force Illinois Report

Great News! Illinois is only $7.6 Billion Behind in Paying its Bills

Great news, Illinois! In nine months, state government will be only $7.6 billion behind in paying its bills. That’s a 14 percent reduction, reports the Civic Federation, reports the Civic Federation of Chicago. But it’s also the most fragile of reductions – pension costs that continue to rise and other variables could delete it, the group warns.

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