A growing portion of Illinois' income tax revenue is coming from Chicago and the suburbs, new data from the Illinois Department of Revenue shows. But are they getting their fair share back?
McCaleb: Madigan, Democrats spread false narrative about Rauner’s willingness to compromise – Opinion – INN
Gov. Bruce Rauner has named former state Rep. Darlene Senger, a Naperville Republican, as deputy chief of staff for legislative affairs. In her new role, Senger will coordinate liaisons and advise on legislative affairs, according to a news release from Rauner's office Monday.Comment: She has a solid pension background, having formerly worked for a private sector pension consulting firm.
llinois, hoping to capitalize on Wisconsin's prize of a $10 billion Foxconn factory, should forget about the contract manufacturer's supply chain, at least for now. That's the message from experts and industry executives who understand the business of making liquid crystal displays.
A fascinating, little-known story about the second richest woman in America and an Illinois border town, Beloit.
Illinois Gov. Bruce Rauner on SB1 veto: Make school funding fair for the whole state – Northwest Herald
Chicago Public Schools’ latest $500 million borrowing: More evidence it doesn’t deserve a bailout – Illinois Policy
Rep. Sosnowski: Oppose Senate Bill 1and its ‘evidence-based’ funding formula – Opinion – Daily Chronicle
llinois is one of 41 states with an income tax. However, it is just one of three states, along with Mississippi and Pennsylvania, that exclude retirement income from that tax.
A scathing report by the Illinois Governor’s Office’s Inspector General found George Sheldon mismanaged the state’s child welfare agency during his tenure as director and ran afoul of ethics rules in his dealings with an assortment of friends from Tallahassee.
Sheldon, a well-known figure in Florida politics and Democratic Party circles, took over Illinois’ troubled Department of Children and Family Services in 2015 but left on May 31 to serve as CEO of the Miami-based nonprofit Our Kids.
Joel Levin, acting U.S. attorney for the Northern District of Illinois, recently announced the creation of a Health Care Fraud Unit to tackle criminal fraud in the state's health care industry.
The fraud unit of five attorneys will take on fraud allegation cases ranging from billing scams to unnecessary medical treatments undertaken in order to get more money from systems like Medicare and Medicaid.
Dear Illinois parents: You’re being played by Democrats in Springfield – Editorial – Chicago Tribune
The Kenosha area is so near that there's a lot of potential for Illinois job-seekers and suppliers.
"When you need that many people and a company ramps up as fast as Foxconn intends, it will be difficult for Wisconsin to meet all of their needs," Peterson said. "The reality is, it's a pretty short trip for people (who live) in Lake and McHenry counties, or even Cook. We have a lot of people that can benefit."
Illinois General Assembly passes bill to restrict collection, use of geolocation data – Illinois Policy
Mr. Madigan, Mr. Cullerton, Wisconsin thanks you for blocking Illinois reforms – Editorial – Chicago Tribune
Taxes hiked, Democrats blamed, but how much will Republicans be boosted in 2018? – Cook County Record
Foxconn announces $10 billion investment in Wisconsin and up to 13,000 jobs – Milwaukee Journal Sentinel
The project could reshape the economy of southeastern Wisconsin and involve not just a large factory but a virtual village, with housing, stores and service businesses — spread over at least 1,000 acres. That acreage, an area totaling more than 1.5 square miles and could potentially could be assembled from parcels that initially weren’t contiguous, the source said.
At 20 million square feet, the factory would be three times the size of the Pentagon, making it one of the largest manufacturing campuses in the nation. It would initially employ 3,000 workers making an average of $53,900 a year.
Special Session: Senate President Cullerton says he will send Rauner education funding bill Monday – INN
Here’s why one of America’s largest systems (Illinois) just ditched all its hedge funds – Video – CNBC
Another crisis brewing in Cairo — this one at City Hall, say councilman, utility executives – The Southern
AFSCME pressuring Cook County Commissioners to raise sales, alcohol, parking, cigarette taxes and more to save county government jobs – Illinois Policy
This year, they spent part of their summer vacation successfully lobbying for a state income tax hike. Angella and her husband, both public school employees, pulled in more than $220,000 from taxpayers last year.
Chicago Public Schools’ Debt Exceeds $17 Billion; Suburban Taxpayers Teed Up to Bail Them Out with SB1 – Rep. Ives Press Release
Chicago Dems Attempt To Raid Suburban School Districts – Audio – Rauner, Proft, Kass – Upstream Ideas
University of Illinois Urbana-Champaign is set to lead a multimillion-dollar research center devoted to the future of biofuels – Chicago Inno
The Illinois State Board of Investment, one of the state's biggest pension funds, soon will have jettisoned all but its best performing hedge funds because of low returns and high fees.
Over the past 18 months the pension fund has fired 65 hedge fund managers, and it will cut some of the remaining 17 as well, leaving it with just the best-performing funds that are reclassified by their strategies, such as stock investing."Hedge funds have not generated returns justifying the fees," said ISBI Board Chairman Marc Levine, who has overseen the near elimination of $1 billion invested by ISBI in hedge funds. Comment: Well, well, well. It looks like those evil vulture capitalists and bankers in the Rauner Administration are the ones draining the swamp to help pensioners at the expense of hedge funds. The thanks from pensioners and unions are deafening, eh?
Quigley Offers Amendment to Redirect Border Wall Funds to Essential Homeland Security Grants – Congressman Mike Quigley
Rauner said on Monday he intends to block money earmarked for Chicago Public Schools' (CPS) teacher pensions under recent legislation because he feels it is too much of a "bailout" for a badly managed system.
If Foxconn brings 10,000 jobs to southeastern Wisconsin, Illinois stands to benefit – Chicago Tribune
Illinois “Budget Deal” Is Likely The Death Knell For The State’s $130 Billion Underfunded Pensions – ZeroHedge
Another day, another surprise found in the budget that few had a chance to read: a 2 percent "collection fee" on sales taxes gathered for the locals by the Illinois Department of Revenue.
The handling charge will apply to sales taxes levied by local governments, including not only obvious targets such the city, Cook County, Schaumburg, Evanston, et al., but also the Regional Transportation Authority and levies by the Metropolitan Pier & Exposition Authority on automobile rentals and hotels, according to an analysis by the Illinois Municipal League.
Millennials could be key to Illinois’ housing recovery – but they are fleeing the state – Illinois Policy
State contributions to pension plans will decline $1.5 billion in fiscal 2018, by far the largest single spending cut in the budget. They did that -- and this is another secret that was buried in the budget -- by delaying lowered discount rate assumptions. A schedule will phase them in. Expect a huge spike in unfunded liabilities.Kudos to Joe Cahill at Crain's for finding this.
The trouble stems from the state's efforts to shift the bulk of its Medicaid population—about two-thirds of Illinois' 3.2 million Medicaid recipients—to managed care plans run by private insurers. But the insurers the state has hired are doing a lousy job of tracking down and working with Medicaid recipients who chose them or were assigned to them—though the insurers say the state's far-from-flawless record-keeping doesn't help matters. The state pays them regardless of whether they find people, but Illinois officials do withhold some money that insurers can earn back by hitting certain quality benchmarks.
Sabotaging Illinois: Legislators’ tax-hike budget won’t stanch the exodus of jobs and people – Editorial – Chicago Tribune
Your Illinois income tax hike? Right now. Reforms? Maybe later — maybe. – Editiorial – Chicago Tribune
For Illinois Medicaid, the loss of a big insurer would mean a major shift. The roughly 235,000 low-income and disabled recipients Aetna covers would have to be moved to another health plan that might not have the same network of doctors and hospitals.
Politicians and credit raters form a coalition for tax and spend.