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Wirepoints introduces plan to resolve pension crisis in Illinois state government
A retirement restructuring plan has been proposed by Wirepoints.com to help end Illinois' public retirement crisis.
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From Prairie State Wire
Wirepoints makes a data-backed argument about why Illinoisans 'can and must get back to work'
When Gov. J.B. Pritzker signed off on the stay-at-home order that essentially shut off Illinois' economy five weeks ago, few could argue with his reasoning. Now, though, a government watchdog group claims the current reality warrants opening the state back up.
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From Prairie State Wire
Illinois has enough ventilators for COVID-19 patients, according to state's data
If Gov. J.B. Pritzker gets the 4,000 ventilators he's requested, Illinois could end up with 2,280 more ventilators than it needs under worst-case scenario projections for the coronavirus crisis in Illinois, according to an analysis of recently released data from the state.
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From Prairie State Wire
More than half of Illinois' police and fire pension funds are underfunded, Wirepoints reports
Financial decay is happening at all levels of Illinois state government, according to the president of state news aggregation and research site Wirepoints.
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From Prairie State Wire
Illinois home values show little growth compared to neighbors, rest of U.S., Wirepoints reports
Illinois ranked near the bottom in average U.S. home values over a 12-year period ending in 2017, according to a new Wirepoints report.
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From Prairie State Wire
Wirepoints calls out Pritzker for doubling state's gas tax, breaking promise to middle class
Illinois state lawmakers have a dubious history of subjecting residents to gas tax hikes, but the recent doubling of the state gas tax to 38 cents per gallon seems to have taken things to an entirely new level.
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From Prairie State Wire
Pritzker’s claims of paying down pension debt “simply dishonest,” fiscal watchdog says
The recently approved state budget hardly makes Illinois the beacon of fiscal prudence that Democratic Gov. J.B. Pritzker and legislative leaders claim it is, budgetary analysts at Wirepoints say.
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The true size of the deficit should matter most to 'fair tax' proponents, Wirepoints' Glennon reports
There are 33 states that have implemented a graduated income tax, and Gov. J.B. Pritzker is trying to make Illinois the 34th by eliminating the state's flat tax system in favor of what he and his Democratic supporters are touting as a new "fair tax."
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Wirepoints exec decries state's high property taxes
Ted Dabrowski was not in attendance at a recent Center for Tax and Budget (CTBA) Accountability “Property Taxes: Why Are They So High and Where Are They Going?” seminar hosted by CTBA executive director Ralph Martire in conjunction with the Palatine League of Women Voters, but he thinks he can almost hear what he is sure was said.
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From Prairie State Wire
Illinios education officials want half the state's budget, Wirepoints warns
Illinois education officials are out to get half of the state's budget—and they just might—to the detriment of the state's taxpayers, according to an online Wirepoints newsletter issued earlier today.
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From Prairie State Wire
State facing huge debt for public-sector retiree health benefits, says Wirepoints
Illinois's "other debt disaster" is $73 billion in unfunded state retiree health insurance benefits and more than twice that amount owed over the next four decades, according to a special report issued this week by an online news outlet.
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From Prairie State Wire
Population falling, but Illinois government leaders agree to spend, borrow more
Illinois state government leaders say they will spend a record $38.5 billion and borrow an estimated $11.5 billion over the next year, according to a fiscal year 2019 budget plan approved by Gov. Bruce Rauner.
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Proposed 'privilege tax' bill called 'a hot stick in the eyes' of Illinois businesses
Mark Glennon, the founder of Wirepoints, sees House Bill 4293 as being representative of everything wrong with Illinois’ faltering national reputation.
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Records show City of Berwyn paid State Rep. Durkin's law firm nearly $200K in fees
For municipal bond advisory work, Jim Durkin, the lawyer, earned nearly $200,000 for his law firm, Saul Ewing Arnstein & Lehr, from just one client, the City of Berwyn, billing records obtained by West Cook News show.
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WirePoints founder sees flawed logic, false data in school funding model support
Mark Glennon doesn't see how Illinois' new public education funding model adds up to its mastermind, Illinois teachers union lobbyist Ralph Martire.
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Report shows 'true' accounting of pension liabilities more than double what governments say; Expert: debt is 'utterly absurd'
Financial expert Mark Glennon of Wilmette says in his analysis of a new study on state and local pensions that the options available to reduce the substantial obligations facing Illinois funds include amending the state constitution or going through federal bankruptcy.
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If budget hopes are scrapped, Illinois could become first 'junk' state
The chances that Illinois will reach a budget before May 31 and avoid seeing its bond rating lowered to the worst of any state in history are 50-50 at best, according to Mark Glennon, founder of the business and government website WirePoints told the Sangamon Sun recently.
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Municipalities warned not to hold breath on more funding
Illinois lawmakers are butting heads over budget allocations while state offices and embattled municipalities manage with a minimum amount of money.