Tuesday, February 26, 2013
State Rep. Lou Lang (D-Skokie) has proposed that Illinois keep its current tax hike of 5 percent to fund all five pension sectors indefinitely.
In 2011, Illinois Gov. Pat Quinn increased state income tax from 3 percent to 5 percent. The increase was supposed to expire in 2014, but state Rep. Lou Lang (D-Skokie) wants to keep that tax hike indefinitely - it's his solution for repaying the $97 billion owed to all five pension sectors in Illinois, the State Journal-Register reported. Under Lang's plan, state workers would be required to pay an additional 3 percentage points into their pensions and the minimum retirement age for full pension benefits would be 67-years-old, the Journal-Register stated. However, there are other proposals, but Lang is calling them "unconstitutional" because they would change cost-of-living benefits for retirees. "We need a pension plan that will not end …
Monday, August 20, 2012
A special legislative session in Springfield last week made no progress. Here, Patch rounds up reactions from local politicians and residents.
No one ever said getting the pension issues in line in Illinois would be easy. State lawmakers have certainly proven that to be the case by the action – or rather inaction – last week in Springfield. In a turn of events that had all the surprise of say, the sun rising in the east, the Illinois General Assembly failed to act at the special session Friday on the matter of the pension debt that is estimated to be anywhere from $80 - $90 billion. So the issue will not be acted upon until after the November election at the earliest. The cost to the taxpayers was $40,000 for the session. The only vote taken was in the House on Legislators curbing their own pensions. That measure received 54 yes votes as opposed to 53 against, but it was still …
Monday, October 31, 2011
A trio of elected officials spoke on jobs, healthcare and the struggling economy during a forum in Skokie on Friday.
The debate over spending, taxes and how to get the sluggish economy pumping again may be taking place in the nation’s capital, but it was also the basis of a local conversation in Skokie on Friday. U.S Senator Richard Durbin and U.S. Rep. Jan Schakowsky were among the panelists at a legislative forum hosted by the Skokie Chamber of Commerce. Both talked about the need to make changes in the U.S. tax code if the country was going to see a balanced budget once more as well as getting the unemployment rate down. Durbin laid out some specifics at the Evanston Golf Club talking about the work of the 12 member super committee composed of members of both chambers that was created as part of the deal to hike the debt ceiling after a prolonged …
Brian Hickey
11:43 pm on Friday, April 12, 2013
If we dumped the Madigans does that mean Illinois would no longer carry the moniker Madighanistan? more ›