Nation’s worst credit rating costs Illinois millions more in interest payments
Nation’s worst credit rating costs Illinois millions more in interest payments
Illinois has the lowest credit rating in the nation. And just like people with poor credit scores, the state must pay higher interest rates. Higher rates mean higher interest payments that drain the budget and leave less money for education, health care and public safety. For every $1 billion of new borrowing, Illinois taxpayers are...
By Benjamin VanMetre
Illinois paychecks shrink
Illinois paychecks shrink
Illinoisans enjoyed a larger paycheck than their Iowa counterparts for 30 years – until 2012. For the first time ever, the median household in Iowa surpassed its Illinois counterpart, according to the U.S. Census Bureau. If you lined up all households in order of income, the median household would be the one in the very...
By Michael Lucci
National Employee Freedom Week tells workers about their options
National Employee Freedom Week tells workers about their options
Aug. 11 marks the start of National Employee Freedom Week, when nonprofit organizations in 44 states reach out to workers across the country to let them know they have choices when it comes to union membership. Even in states that do not have a Right-to-Work law, such as Illinois, workers don’t have to join a...
By Paul Kersey
Illinois: Turning around or running in place?
Illinois: Turning around or running in place?
Gov. Pat Quinn is claiming that Illinois is making a comeback. But the evidence, supported by public opinion, belies that fact. Illinois remains an economic basket case: The state has the fastest-shrinking workforce in the nation Illinois has the second-highest property taxes in the country, as well as a high tax burden on individual and business incomes Illinois is the third-most corrupt state in the country Illinois loses one resident...
By Naomi Lopez Bauman
Illinois corruption watch, July 2014
Illinois corruption watch, July 2014
The bad news keeps piling up for Illinoisans. Illinois Policy’s “corruption watch” blog series hit a new high in the month of July with nearly 100 corruption-related stories. Chicago and Springfield are the two cities most synonymous with the state’s corruption woes. Unsurprisingly, both cities dominated headlines with the top two corruption stories of the...
By Brian Costin
Appellate court rules Cook County can’t tax goods bought outside the county
Appellate court rules Cook County can’t tax goods bought outside the county
Can Cook County make its residents pay taxes on things they buy elsewhere? This week an Illinois appellate court said no, upholding a lower-court decision striking down the county’s “Non-Titled Personal Property Use Tax,” which charged an extra tax on Cook County residents who bought goods worth more than $3,500 outside of the county. In...
By Bryant Jackson-Green
Private and public sectors trade pension plans for real retirement security
Private and public sectors trade pension plans for real retirement security
Over the last three decades, private-sector companies have transitioned away from traditional pension plans and toward 401(k)-style plans for their employees. While the traditional pension plans were unpredictable and unmanageable, these 401(k)-style plans offered companies a greater level of certainty in their budget and gave employees greater control over their retirement accounts. Today, 85 percent...
ObamaCare open enrollment round 2: IL numbers still below expectations
ObamaCare open enrollment round 2: IL numbers still below expectations
Illinois is now gearing up for the second round of ObamaCare open enrollment period that begins on Nov. 15. ObamaCare was passed with the promise that it would drastically reduce the number of uninsured Americans. Illinois’ state officials originally aimed to reduce the eligible uninsured adult population by half by the end of the first...
By Naomi Lopez Bauman
The sad but true history of Illinois’ credit rating
The sad but true history of Illinois’ credit rating
Illinois has the lowest credit rating in the nation. The sad truth is Illinois hasn’t been a AAA-rated state since February 1979 – when a gallon of gas cost less than a dollar and the Dow Jones Industrial Average hovered in the low 800s. The state’s credit rating has been in a downward spiral ever...
By Benjamin VanMetre
U.S. workforce grows, Illinois’ shrinks
U.S. workforce grows, Illinois’ shrinks
U.S. nonfarm payrolls added 208,000 workers in the month of July, against consensus expectations of 230,000, according to the Bureau of Labor Statistics. The national unemployment rate ticked up to 6.2 percent. However, one of the reasons for the increase is that the number of people in the workforce increased. It is healthy for workforce...
By Michael Lucci
Shaming corrupt politicians with plaques
Shaming corrupt politicians with plaques
The state of Pennsylvania isn’t afraid to shame their convicted politicians, and Illinois shouldn’t be either. Recently, Pennsylvania started shaming the lawmakers who have been convicted of a crime by adding a detailed plaque under their portraits hanging in the state Capitol building in Harrisburg. The plaques highlight offenses committed by convicted lawmakers, including the...
By Donovan Griffith
Waukegan, beleaguered, needs school choice for a comeback
Waukegan, beleaguered, needs school choice for a comeback
Chicago’s North Shore is synonymous with million-dollar homes and top-notch schools. For decades, families have left Chicago to raise their families and educate their children in the North Shore suburbs. But tucked away within those wealthy villages is a city with schools on the other end of the spectrum. Waukegan, with a population of more...
Wisconsin Supreme Court upholds union reforms
Wisconsin Supreme Court upholds union reforms
The Statehouse was packed. Protestors crammed the building, chanting, pounding drums and marching around with signs. The historic Wisconsin state Capitol had become overrun with sleeping bags and activists. In some cases, lawmakers were harassed. Doctors diagnosed fake illnesses so protestors could be excused from work. The Senate Democratic caucus fled the state. Within days,...
By Paul Kersey