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Quick Hit
Thu Apr 28, 2011

Number Of The Day: (A Misleading) $8.3 Billion

Illinois State Comptroller Judy Baar Topinka says the state is on pace to be $8.3 billion in the hole by June 30, the end of the fiscal year. She slammed the controversial state tax increase because she said the state will still owe what it did a year ago. But it has been pointed out that she got to the “misleading” billions by adding up the unpaid bills and projected unpaid bills.

Quick Hit
Mon Apr 25, 2011

Seniors Slam GOP Budget, Schakowsky Touts Fairness In Taxation Act

The radical changes to Medicare as proposed by U.S. Rep. Paul Ryan (R-WI) in the Republican budget plan are meant to save money, but the hypocrisy of those program cuts plus tax breaks to keep the current budget numbers in line have been well-documented. The concern surrounding the Republican's budget prompted Rep. Jan Schakowsky (D-IL) to meet up with some Illinois residents to discuss her Fairness in Taxation Act , which continues to be stalled in the House Committee on Ways and Means.

Quick Hit
Mon Apr 18, 2011

"Corporate Freeloaders" Called Out On Tax Day

As Tax Day withers on, progressive groups everywhere are getting heated over the mounting evidence that the poor get poorer to keep the rich richer. According to Think Progress, the tax rate for the richest 400 Americans has been cut by half in the last 12 years, and not coincidentally, their income has quadrupled too. ”In 1995, the richest 400 Americans paid, on average, 29.93% of their income in federal taxes. In 2007, the last year for which the IRS has released data, the richest 400 Americans paid just 16.63%” -- and had this wealthy group paid the same 2005 rate, there would be an additional $3 billion in tax revenue.

Quick Hit
by Robert Dietz
Wed Apr 13, 2011

Obama Proposes Cuts, Pushes Back Against Republican Budget

In a much-anticipated speech, President Obama responded to the Republican deficit-reduction plan, vowing to cut $4 trillion over the next 12 years. The political stakes were huge. Obama was tasked with addressing the seriousness of the deficit, without cutting programs that would anger his Democratic base while providing an alternative to the plan put forth by Rep. Paul Ryan. He did this by drawing a line in the sand on the nation's social safety net and arguing for a roll back of the Bush-era tax cuts for the rich.

PI Original
Wed Mar 30, 2011

Consumer Advocates Battle ComEd Rate Hikes

Consumer advocates are fighting a bill they say would allow for ComEd and other utility companies to sidestep the current comprehensive regulatory system, leading to automatic rate hikes.