While many are following the manufactured cliff debate in Washington, in Illinois, a Democratic House, Senate and Governor are attempting to wash their hands of their financial mismanagement of teachers’ pensions once again.
Illinois’ veto session is our “lame duck” session and, hard to move legislation like public employee pension rip-offs is back on the table. In Springfield there is no progressive voice in the room proposing that the general assembly rescind the $85 million/per year tax break to the Chicago Mercantile Exchange (CME). There have been no proposals to implement a tax on contracts at the CME (our Wall Street) and, there have been no proposals to modernize Illinois’ tax code with a graduated income tax.
