Now that state lawmakers have taken the tough step of passing state pension reform, what does it mean for Chicago? CBS 2′s Dana Kozlov explains.
The Illinois Legislature approved a historic plan Tuesday to eliminate the state’s $100 billion pension shortfall, a vote that proponents described as critical to repairing the state’s deeply troubled finances but that faces the immediate threat of a legal challenge from labor unions.
Illinois’ legislative leaders briefed other lawmakers Friday on details of a breakthrough agreement for solving the state’s $100 billion pension crisis, leaving them four days to study the plan before facing a vote that could be crucial for the state’s financial condition and their own re-election plans.
After more than five months of work, Illinois’ legislative leaders announced Wednesday they’ve reached a deal to help solve the state’s $100 billion pension problem, considered the nation’s worst.
Gov. Pat Quinn says he’s not discouraged that lawmakers came away from two days of their fall veto session without tackling any of the major issues on their agenda.
The mayor also warned aldermen the city his efforts to avoid raising property taxes has been put in jeopardy by the continuing pension crisis in Illinois.
Gov. Pat Quinn’s appeal of a ruling that his veto of lawmakers’ pay was unconstitutional will be heard by the Illinois Supreme Court.
Gov. Pat Quinn lost another round in his bid to block lawmakers’ paychecks until they send him a pension reform plan, when the Illinois Appellate Court denied his request to stop legislators from getting paid.
A Cook County judge has ruled that Gov. Pat Quinn’s decision to halt lawmaker pay over the pension crisis is unconstitutional and has ordered Comptroller Judy Baar Topinka to pay them immediately.
It’s an old saying: A day’s pay for a day’s work.
House Speaker Michael Madigan and Senate President John Cullerton sued after Gov. Pat Quinn used his veto power earlier this summer to cut money for legislators’ salaries from the state budget.
Gov. Pat Quinn appears happy about the progress state lawmakers have been making on pension reforms.
A leading state lawmaker said a bipartisan pension reform committee has been making progress toward a deal, though not as quickly as they’d like.
“This is going to be a landmark case,” said Gov. Pat Quinn, who used his veto power last month to block lawmakers’ salaries over their failure to reach an agreement on pension reform.
The Governor said there was no reason for lawmakers to go to court to reverse him. They could do it themselves.
One of the state lawmakers whose paychecks are being withheld by Gov. Pat Quinn over the state’s pension stalemate appeared to be about to upstage the governor at a bill signing yesterday.
Former White House chief of staff Bill Daley is calling on Gov. Pat Quinn to bring the state’s legislative leaders together for around-the-clock talks to resolve the state’s $97 billion pension shortfall.
The head of a budget watchdog group said a major of the Chicago’s credit rating on Thursday was no surprise, but is very troubling for residents.
Seeking to pressure lawmakers into acting on comprehensive pension reform, Gov. Pat Quinn used his budgetary veto powers on Wednesday to suspend legislative salaries until they come up with a plan.
The Governor is holding fast to next Tuesday’s deadline for a pension reform bill; the lawmakers are saying there’s no way they can do it.