DNA Info: State Rep's Daughter Charged in Staple Gun Attack On Mom's Opponent
The daughter of state Rep. Cynthia Soto is facing criminal charges along with her boyfriend for hitting former Soto opponent Bob Zwolinski over the head with a beer bottle and stapling his forehead, Chicago Police said.
Jessica Soto, 26, of the 1500 Block of West Ohio Street, and Bradley Fichter, 26, of the 4700 Block of North Kewanee Avenue, were each charged with aggravated battery with a deadly weapon, aggravated battery causing great bodily harm and aggravated battery in a public place.
Additionally, Fichter was charged with one felony count of disorderly conduct for filing a false police report about the incident.
New York Times: Study Finds Public Pension Promises Exceed Ability to Pay
When Detroit went bankrupt in 2013, investors were shocked to learn that the city had promised pensions worth billions more than anyone knew — creating a financial pileup that ultimately meant big, unexpected losses for Detroit’s bondholders.
Now, researchers at Citigroup say the groundwork has been laid for similar conflicts across the developed world: Governments have promised much more than they can most likely pay to current and future retirees, without revealing the disparity to investors who bought government bonds and whose investments could be at risk.
Twenty countries of the Organization for Economic Cooperation and Development have promised their retirees a total $78 trillion, much of it unfunded, according to the Citigroup report.
Chicago Tribune: Presence Health to lay off 250 employees
Presence Health plans to lay off 250 employees over the next three months, as the Chicago-based Catholic hospital network slashes costs after reporting a higher-than-expected loss last year.
In addition, the health system does not plan to fill about 450 jobs that are expected to become vacant this year through attrition. The reduction of about 700 positions by the end of 2016 is expected to save the company about $50 million, said Michael Englehart, president and CEO.
Englehart disclosed the layoffs during a Wednesday conference call with bondholders. He said the job losses would be concentrated in corporate and support areas rather than front-line health care workers, such as doctors and nurses.
Fox: Unemployment Rates Rise In Most Illinois Metro Areas
The Illinois Department of Employment Security says unemployment rose in January in all but one of the state’s metro areas.
According to Thursday’s monthly report, the sharpest increases were in the Peoria and Danville areas. Unemployment in Peoria rose from 7.2 percent in January 2015 to 8.6 percent this January. And in Danville the jobless rate rose from 7.7 percent to a statewide high of 9.1 percent.
Peoria is home to Caterpillar Inc. The heavy equipment-maker last year announced plans to lay off thousands of employees around the world.
Huffington Post: Illinois Ranked Worst State To Be A Taxpayer — Again
For the second year in a row, WalletHub has pegged Illinois as the worst state to be a taxpayer.
The personal finance site’s study ranks all 50 states and the District of Columbia based on the effective total state and local tax rate, which is calculated as a percentage of the national median household income of $53,889. Four types of taxation are taken into account: property tax, vehicle property tax, income tax, and sales and excise tax.
With an effective total state and local tax rate of 14.54 percent, Illinois has the highest in the nation. But when adjusted for cost of living, Illinois’ rank went from dead last to No. 43, according to WalletHub.
SJR: Illinois Senate Democrats pass $3.8B funding bill opposed by GOP
The Illinois Senate Thursday passed another bill designed to get billions of dollars to universities, college students and a variety of human-services programs.
However, the measure was immediately criticized by Gov. Bruce Rauner and Republican senators who said the bill will do nothing to actually put cash into the hands of those recipients because there isn’t enough to go around as it is.
The Democrat-dominated Senate approved Senate Bill 2059 on a 39-18 vote, with Democrats in favor and Republicans opposed. Two Republicans did not vote.
NBC: Chicago City Council Knocks Down Sales Tax on Tampons
The Chicago City Council has rescinded a city sales tax on tampons and sanitary napkins.
Wednesday’s vote followed a recommendation that was made without opposition by the City Council’s finance committee last week. The items are taxed 10.25 percent in Chicago. The vote will remove Chicago’s portion of that tax, or 1.25 percent. Supporters say the measure corrects an unfairness to women.
Tampons and sanitary napkins are now characterized as medical necessities to be exempted.