As more baby-boomers retire, Illinois is increasingly missing out on a revenue source. Of the 41 states with an income tax, Illinois is one of only three that exempt all pension income.
A new report from the Chicago-based Civic Federation says Illinois needs to take a longer-term approach to budgeting; one that is rooted less in politics, and more in reality. Most notably. the group recommends Illinois extend its current income tax rate for a year before gradually rolling it back.
Update on 7/12/13: Workers at state parks and fairs will get paid after all, according to Brad Hahn, spokesman for the Illinois comptroller. He says the portion of the budget affecting them has been signed by Governor Quinn, so the threat of late paychecks for those workers is over.
Tens of thousands of state workers in Illinois are at risk of missing their next paycheck. That's because Governor Pat Quinn hasn't signed a bill that covers certain elements of the new state budget.
The State of Illinois has awarded Health Alliance Medical Plans a new long term contract to provide HMO coverage to tens of thousands of state workers. That includes many at Northern Illinois University.
Two Illinois prisons targeted for closure will stay open for at least another month. An arbitrator ruled today that Governor Pat Quinn and his administration violated the rights of union workers by rushing the process.