Largest tax increase in Illinois history, common sense, sure.... perhaps to a tax and spend liberal!
Illinois will still be downgraded to JUNK status, its just been postponed. We continue to circle the drain. Even more taxpayers will now flee the state. None of the structural problems have been addressed, and we will continue to be in the same position every year. More, more, more money for the government for worse service every year. The death spiral the state is currently in has just been worsened, no reason to celebrate.
Democrats and Republicans alike in this state are responsible for the underfunded pension liabilities. Republican Jim Edgar, for instance, claimed victory over pension reform but in reality just pushed payments back without reigning in the benefits or raising taxes.
Pushing pension payments on future taxpayers has been a bipartisan affair in Illinois for going on 20 years.
My hope is that both parties can get together and put pension reform back on the ballot in the form of a constitutional amendment and eliminate the COLA increases and pare back on the benefits. Hopefully Rauner's term limits gets passed as well.
