PENSION LEAKS The pension reform compromise being hammered out by a special committee will have public employees paying less into their retirement funds and in some cases still eligible to retire at age 55. It'll save the state $145 billion over 30 years -- less than the $187 billion from House Speaker Michael Madigan's bill but much more than the $47 billion in a bill passed by the Senate and backed by public employee unions. If news reports about the outline of the pension bill are true, there will be plenty for everyone to hate in this compromise. And there definitely will be a lawsuit by the unions challenging this bill, should it become law. I cover both sides and add a few complaints of my own in today's blog post.
LONG TIME Two weeks ago, Republican gubernatorial candidate Bruce Rauner established a political action committee to make term limits part of the Illinois Constitution. If successful,the effort would let voters decide in November 2014 whether to impose limits. Ever wondered which Illinois lawmakers have served the longest? Find out in our Top 10 list.
TAX FORUM Is it time for Illinois to scrap its one-size-fits-all flat tax system and adopt a progressive income tax system? Should we keep the flat tax but allow the tax rate to fall from 5 percent to 3.75 percent in 2015 as scheduled? Should the temporary 5 percent income tax rate be extended until Illinois gets its financial footing? So many questions face Illinois' leaders, and the candidates who want to be its next governor, about the future of Illinois' income tax. We'll be in Naperville on Sept. 9 with two expert panelists who have very different answers to those questions for a forum on the movement to implement a progressive tax system. This is a repeat of the event we held in Springfield this month, and it was an informative and provocative discussion. We're teaming with the Naperville Chamber of Commerce for a reprise and we hope you'll join us. Information and advance registration is here.
Find out what's happening in Palatinewith free, real-time updates from Patch.
METRA QUOTE This is an eloquent way of saying, "Oops."
WHY ILLINOIS IS GREAT Time is running out to enter the Reboot Illinois "Why Illinois Is Great" photo contest. Entries will be accepted through Sept. 3, which gives you a week to send us a shot of something, someplace and/or someone who embodies why you are proud to be an Illinoisan (and why you think Illinois deserves better government than it's had in recent years). Find out more here! Not planning to enter? Then vote for someone who did. So easy, so fast, so fun!
Find out what's happening in Palatinewith free, real-time updates from Patch.
TOP 5 Here are links to 5 important Illinois news and opinion articles you should check out today. You'll find links to and summaries to more in the Daily Tip-Off section of our website.
- 5. Illinois Democratic candidate for governor Bill Daley is well known in Chicago, but he’s trying to make a name for himself throughout the whole state. (Rockford Register Star)
4. The pension reform conference committee is looking at a new outline of ideas, but it’s the ideas that aren’t in the outline that may prove most interesting. (Chicago Tribune)
3. Opinion: Developers of a Ford dealership learned firsthand how difficult it is to do business in Chicago. (Chicago Tribune)
2. A Sun-Times analysis finds that many of the new “Safe Passage” routes are marked with a violent history. (Chicago Sun-Times)
1. The first day of the new school year for Chicago Public Schools went well, but parents are concerned about times ahead. (Chicago Tribune)
