Fair and equitable school funding must eliminate PTELL and TIF subsidies

For years, many have sought an equitable and fair funding formula for Illinois school district finances. Senate Bill 1 is not that solution despite numerous educational leaders, politicians and media endorsements of the bill’s passage by overriding the governor’s amendatory veto. SB1 retains the most unfair and inequitable practices within the current school funding formula – subsidies related to Illinois’ Property Tax Extension Limitation Law (PTELL) or Tax Caps and Tax Increment Financing (TIF) districts. Most don’t realize that after...

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Madigan had to pass budget to find out what’s in it

Recalling Illinois’ past record, everyone must know that Madigan and company’s new budget will not solve the state’s financial crisis. Springfield will continue to spend the additional $5 billion a year, just as they squandered most of the $32 billion extra tax dollars collected during the last temporary income tax hike. Madigan’s budget permanently increases the income tax rate to 4.95% from 3.75% and corporate income tax increases to 7% from 5.25%. No, the personal income tax increase is not 1.2% as some local proponents suggest; it’s a...

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Illinois taxpayers have had “Enough!”

On Wednesday, June 29, dozens of Illinois newspapers informed the General Assembly and their readers in an op-ed on the front page that the state has had “Enough!” and demanded that the budget standoff be resolved and resolved now. Illinois taxpayers are the ones who should be demanding, “Enough!” with the state currently spending $33 million tax dollars a day more than revenues. The crux of the fiscal crisis is uncontrolled, excessive overspending of any amount of tax revenue received by Springfield. Illinois taxpayers know that they will...

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Obama didn’t refinance mortgage and he’s in charge of taxpayer’s money?

An AP column printed in the Rockford Register Star today states that President Barack Obama hasn’t refinanced the mortgage rate on his South Side Chicago home yet, even though interest rates fell to below 4% this year. He isn’t even sure how much money he and Michelle could have saved at the lower interest rate – no wonder our national debt is soaring! Excerpt: Financial disclosure forms Obama released this year show an interest rate of  5.625 percent on the 30-year mortgage on his South Side Chicago home, which was  valued...

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Another attempt to redistribute state school funding sources

Let’s take a look at today’s Rockford Register Star’s My View column written by the IEA president, Cinda Klickna discussing the cuts being made in Chicago’s school budget and the fact that our state schools are underfunded and inequitable using the unfair local property tax. The complaint is that Chicago Public schools are laying off teachers and support staff, and the usual, it’s hurting the children. It’s hurting the union members much more. The student teacher ratio in Chicago Public Schools was 20...

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