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TOTAL STATE REVENUES UP FOR SIXTH YEAR IN A ROW

CHICAGO- For the sixth year in a row, since ITEF began tracking state revenue, total Illinois state revenue is significantly up from the previous year, according to data from the Illinois Comptroller’s website. Total tax revenue for FY 2008 has increased $2.3 billion over FY 2007. State revenue has increased $5.1 billion over the past two years with $2.3 billion of that coming from income taxes, with no increase in the tax rate. Read more

CHICAGO PENSION TALKS A STEP IN RIGHT DIRECTION

CHICAGO-The pension reform committee of Chicago has at last taken a bold step in solving their ballooning pension liabilities.  They are talking about shifting newly hired city employees from the current pension system to a defined-contribution 401(k) retirement plan.  This is a step in the right direction if we ever want to solve the pension problem, which has crippled governments at all levels.  Read more

Total State Revenues Continue To Outpace Inflation

CHICAGO- For the sixth year in a row, since ITEF began tracking state revenue, total Illinois state revenue is significantly up from the previous year, according to data from the Illinois Comptroller’s website. Total tax revenue for the first 11 months of FY 2008 has increased $2.9 billion over the same period in FY 2007. Read more

Capital Spending Plan Proposal Is Replay Of 1999 Spending Binge

The current “Capital Plan,” languishing in the Illinois General Assembly, is reminiscent of the six massive “Illinois First” pork barrel spending bills of 1999. Three Illinois First bills increased Illinois taxes by $16 billion, to be paid over 25 years, and three spending bills totaling $12 billion were spent on a “five year plan” not unlike the famous Soviet plans of the same name. Read more

Total State Revenues Climb For Sixth Year In A Row

CHICAGO- For the sixth year in a row, since ITEF began tracking state revenue, total Illinois state revenue is significantly up from the previous year, according to data from the Illinois Comptroller’s website. Total tax revenue for the first 10 months of FY 2008 has increased $1.9 billion over the same period in FY 2007.

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Millions Of Dollars Wasted On Redundant Douglas “L” Line As Taxpayers’ Warnings Are Ignored

“I hate to say I told you so,” said Jim Tobin, President of National Taxpayers United of Illinois (NTUI), “but I told you so. Despite declining ridership, millions of taxpayer dollars are wasted on rebuilding Chicago’s 19th-Century transportation rail system.” Read more

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