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Friday, December 6, 2019
Former Illinois investment chairman foresees 'grand bargain' bailout for public pensions
Pensions (70)
Public pension debt has become such a crisis nationwide that the former
chairman of the Illinois State Board of Investment expects the federal
government will be forced to intervene.
In a conversation with Barron’s, Marc Levine said public pensions were
“inherently unstable” and that states and local units of government were
devoting a considerable amount of their annua...
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Friday, December 6, 2019
Illinois ranks third in the nation for industry regulations
Business (10)
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Economy (34)
A new report highlights significant differences in the number of industry
regulations at the state level, including in Illinois, which was ranked as one
of the most regulated states in the nation.
The recent report from the Mercatus Center at George Mason University was
part of the group's State RegData project. It looked at the number of industry
regulations on the books across most of the co...
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Friday, December 6, 2019
Moody’s Analytics: More states ready for recession, Illinois one of 10 not ready
Bonds, Bonding, Borrowing, Debt, Credit Rating
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Budget--State (8)
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Governor (44)
Illinois is one of only 10 states unprepared for the next economic
downturn.
With a number of economists predicting the next recession could be around
the corner, analysts said most states were better prepared for a recession than
in previous years.
Moody’s Analytics, which operates independently of the credit-rating agency
of the same name, found in “Stress-Tes...
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Friday, December 6, 2019
Op-Ed: Progressive tax will lead to capital flight, fewer jobs, stagnant wages
Taxes, Graduated/Progressive
The most immediate effect of Gov. J.B Pritzker's "Fair Tax" would
be capital flight from Illinois.
Illinois is a high-income, high-wealth state, particularly in the Chicago
area. Chicago is not only a transportation hub, it's also a financial center,
meaning that there's a high concentration of investment capital in the Chicago
area. Gov. Pritzker's tax increase would hit Illinois' investment ...
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Friday, December 6, 2019
State taxpayer liability for pensions increases $3.5 billion despite paying more into funds
Governor (44)
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Pensions (70)
Sosnowski, Joe--State House, 69
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Steans, Heather--State Senate, 7
Despite putting more tax dollars into the state’s five pensions funds,
Illinois' unfunded liability continues to increase.
The Commission on Government Forecasting and Accountability reported the
unfunded liability for the state's five public sector pensions stood at $137.3
billion. State Rep. Joe Sosnowski, a Rockford Republican on the commission,
said that’s up more than $3.5 bil...
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Friday, December 6, 2019
Mahony sees great ‘opportunity for impact’ in SIU presidency
Education--Higher (37)
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