Im still on Vacation visiting The Kids in California but Illinois Pension stuff never dies just fades from view and then raises its ugly head. No matter who you voted for in November 2014 (...This expected development if Rauner won) is bad news for Teachers. School Kids and Pensions in Illinois...... The temporary income tax increases of 2011 will begin to phase down January 1st. The personal income tax rate will decline from 5 percent to 3.75 percent; the corporate income tax rate will drop from 7 percent to 5.2 percent. If spending on services in FY2016 is held constant in nominal, non-inflation-adjusted dollars with FY2015 levels, the states accumulated deficit in its General Fund will increase to $12.7 billion by the end of June, 2016. ......The resolution or the compounding of this Bad News will be played out in Springfield in the coming days, weeks ...perhaps (if we are lucky?) months. For your teacher friends who say it does not matter who you vote for? For the so called Expert Commentators (the defining issue in this label -- do they have a blog) who said to stay home or to not vote for Governor or vote a third party .... they will get an object lesson in 2015 on Why Elections matter. And why who you elect effects Teachers, Kids and our Pensions. Stay tuned for the drama. In this new year I wish I could say Im optimistic ... Im not. I sincerely hope Im wrong. haisman
Posted on: Sat, 03 Jan 2015 17:19:05 +0000
Trending Topics
Recently Viewed Topics
© 2015