Illinois politicians raised taxes last year by 67%, yet we still have the worst-funded pension system in the nation, with over $85 billion in unfunded liabilities.
Now, the payments for these pension benefits are crowding out funding for all other worthwhile state priorities. Whether you are a small business owner, a social service provider, a parent of school kids, a Medicaid beneficiary, or just a hard-working, taxpaying family, Illinois' pension crisis is costing you big time.
Chief Executive Magazine is out with its annual survey of CEO's to determine what are the Best and Worst States for Business. Predictably, Illinois is ranked at the bottom at 48th, followed only by New York and California. Neighboring states, Indiana and Wisconsin, that have recently enacted business-friendly measures to control government spending/ debt and limit the influence of unions, each saw their rankings improve with Indiana going to 5th and Wisconsin jumping four spots to 20th.
These comments from an IL CEO sums up the situation in IL:
“Illinois is a great state but the democrats have ruined the state fiscally and unless they are either elected out or make major changes to the unions problems, corruption and graft, I will move our company out of Illinois permanently.”
AFP has launched a “Wasteful Spending” ad holding President Obama accountable for his use of taxpayer dollars. The ad highlights the billions of stimulus dollars which have been given to foreign companies, subsidizing their own green energy projects – while 13 million Americans are unable to find jobs.
Over the next two weeks, the ad will air in Colorado, Florida, Iowa, Michigan, Nevada, New Mexico, Ohio, and Virginia.
“This ad is not a one-time event – it’s one piece of a comprehensive public education and grassroots advocacy effort,” said AFP President Tim Phillips. “Politicians who oppose fiscal accountability, job creation, and commonsense energy solutions should take notice, because taxpayers certainly will.”
Follow this link to view the press conference involving Sen. Matt Murphy, IL Chamber of Commerce and AFP-IL calling on the General Assembly to pass legislation prohibiting government unions from contributing campaign funds to the elected officials with whom they collectively bargain.