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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Higher taxes will again prove futile in resolving state fiscal crisis

The League of Women Voters in a recent op-ed demanded passage of the proposed increase in Illinois income taxes by over $5B annually; broadening the sales tax to include services; the LWV conventioneers didn’t agree with freezing local property taxes but were in favor of levying a state income tax on senior’s retirement income. The Civic Committee of the Commercial Club of Chicago also envisions raising individual and corporate tax rates and extending the individual income tax to retirement income, just as Illinois Senate President Cullerton,...

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Local taxpayers affected by unfunded state mandates

It’s challenging for a local taxing body to balance their budget without additional unfunded state mandates being imposed on them from Springfield, whether it’s the Illinois Supreme Court in the first example below or the general assembly in the second example, which hasn’t balanced a budget in over a decade. Effective November 1, 2016, the Illinois Supreme Court amended its Rule 941concerning the “Use of Restraints on a Minor in all juvenile delinquency proceedings arising under the Juvenile Court Act” of 1987. This ruling mandates that...

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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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