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Fiscal cliff

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Quick Hit
by Aaron Cynic
6:48pm
Tue Mar 24, 2015

Activists Rally Support For 'A Financial Plan That Puts Chicago’s Communities First'

Community activists say they have an alternative plan for making Chicago fiscally solvent -- and it doesn't rely on cuts that disproportionately affect low- and middle-income people. 

A new report, "Our Kind of Town: A Financial Plan that Puts Chicago's Communities First," targets "predatory financial deals" that cost the city millions of dollars. The paper, crafted by the Refund America Project at the Roosevelt Institute, also suggests a series of progressive taxes could put millions back into the city's coffers.

"What we have is a priorities crisis," said Amisha Patel, executive director of the Grassroots Collaborative at press conference outside the offices of Loop Capital Management. "For decades, budgets in Chicago have been balanced on the backs of working families. In fact, there are a clear set of policy solutions to raise a progressive revenue that our neighborhoods need."

Quick Hit
by Ellyn Fortino
4:59pm
Mon Mar 18, 2013

Duckworth, Lipinski Back Bill To Help Families Cope With Disability-Related Expenses

U.S. Rep. Tammy Duckworth (D, IL-8) announced her co-sponsorship of the bipartisan Achieving a Better Life Experience (ABLE) Act today, which would allow individuals with disabilities to have tax-deferred savings accounts in order to fund health care, housing and other essential expenses.

The ABLE Act, introduced in the Senate, S. 313, and House, H.R. 647, in February, aims to amend the Internal Revenue Code of 1986 to create the tax-free accounts.

“Disabled Americans deserve every opportunity to achieve their dreams,” Duckworth said in a statement today. “The bipartisan ABLE Act would allow disabled Americans to invest in saving accounts without having it count against their federal benefits.”

Quick Hit
by Ellyn Fortino
4:49pm
Wed Jan 30, 2013

Congressmen, Labor Leaders Want Lawmakers To Stop Holding Middle Class 'Hostage' In Fiscal Cliff Talks (VIDEO)

Illinois labor representatives and U.S. Reps. Jan Schakowsky (D-Evanston) and Bill Foster (D-Naperville) gathered in Chicago this morning on a national day of mobilization to call on House Republicans to stop holding families and seniors hostage in the ongoing fiscal cliff negotiations.

The Washington lawmakers, along with members of the Chicago Federation of Labor, AFL-CIO and advocates for the poor and middle class, stressed that tax loopholes for Wall Street and the richest Americans be closed instead of cutting Medicare, Medicaid and Social Security benefits.

“This is about real people who will suffer real pain if the wrong decisions are made,” said William McNary of Citizen Action Illinois.

Quick Hit
by Steven Ross Johnson
2:36pm
Mon Dec 17, 2012

Medicare, Medicaid & Social Security Vital To Illinois Economy, New Report Finds

As lawmakers continue to make little progress in their negotiations over the federal budget, local senior rights advocates warn that proposed cuts in spending to the country’s social safety net would negatively affect many of the state’s elderly and most vulnerable residents.

The importance of Social Security, Medicare and Medicaid was the focus of a new report that illustrates the positive impact these programs have on the state’s economy, as well as those who receive the benefits.

“We need to remember Social Security, Medicare and Medicaid are truly the foundation of the middle class,” said Emily Stuart, director at the Illinois Alliance for Retired Americans. “Without them, the middle class would most certainly suffer.”

Quick Hit
by Steven Ross Johnson
12:42pm
Fri Dec 7, 2012

Illinoisans Erect Shanty Town To Call For Fair Fiscal Cliff Solutions (VIDEO)

As lawmakers race against time to work out a deal on the federal budget before the dreaded “fiscal cliff” goes into effect, protesters on Thursday called on U.S. Sen. Dick Durbin to reject any plan that results in spending cuts to the country’s social safety net.

More than 100 demonstrators gathered in Federal Plaza for what organizers described as their effort to pressure the Democratic lawmaker to stand firm on a fiscal plan that allows the Bush-era tax cuts to expire for the top 2 percent of Americans, or those earning more than $250,000 a year.

Protestors were also calling on Durbin, who served on President Barack Obama’s National Commission on Fiscal Responsibility and Reform, to reject proposed cuts to social programs such as Medicare, Medicaid and Social Security, saying such a move would have a Great Depression-style effect for the most vulnerable of Americans.

Quick Hit
by Aricka Flowers
4:53pm
Thu Nov 29, 2012

Obama Uses Twitter To Get Americans Involved In Fiscal Cliff Discussion

As the debate on the fiscal cliff rages on, the Obama administration took to its tech tool box and found yet another way to use social media as a means to make an impact in Washington.

Yesterday, the Obama administration asked American Twitter users to use the hashtag #My2k to post messages about how a tax increase of $2,000 would impact their daily lives. The move is a savvy one that has gotten Americans talking about the fiscal cliff and Bush tax cuts, and will hopefully keep them attuned to the political discussions taking place in Washington.

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