Explore our content

All types | All dates | All authors
Taxes
PI Original
by Steven Ross Johnson
4:31pm
Thu Aug 9, 2012

Public Sector Job Losses Continue To Stymie Economic Recovery

Economy

As the effects of what has become known as the "Great Recession" continue to linger, state and local governments throughout the country have been forced to face the increasingly difficult task of providing an array of public services under ever-tightening budget constraints. Many of these cuts have led to the loss of government jobs. We take a look at how the loss of public jobs is continuing to affect the economic recovery.

Quick Hit
by Matthew Blake
6:38pm
Mon Jul 30, 2012

Motorola Mobility Making Moves And Ruffling Feathers

In a June 2011 article, Gov. Pat Quinn told the Chicago Tribune why the state rewarded a tax credit to Motorola Mobility worth more than $100 million over ten years. “They told us that they were going to maintain 3,000 employees at their site in Libertyville and we believed them,” Quinn said.

To the chagrin of Libertyville, the company announced Thursday those jobs will be shifted to the Merchandise Mart in downtown Chicago. The Quinn administration confirmed that Motorola Mobility keeps its tax credit.

In Motorola Mobility's defense, the point of the tax credit was to keep the company in Illinois, not Libertyville. But why did Motorola Mobility get a tax deal in the first place? It is not clear how credible their threat ever was to move from Illinois. Also, Motorola Mobility needs taxpayer help less than ever as Google officially purchased the company in May. Talks of a Google acquisition were first publicly announced last August, soon after the tax break started. Read more »

PI Original
by Matthew Blake
5:20pm
Mon Jul 23, 2012
3 comments

Fate Of Gambling Expansion Bill Remains Unclear, Doubts Swirl Around Potential For Job Creation

Springfield

Gov. Pat Quinn appears poised to reject a major gambling expansion bill the Illinois General Assembly passed in May, citing ethical concerns. There are also questions about whether SB1849 will deliver the thousands of jobs its supporters promise, a central reason gaming expansion is appealing in the first place.

PI Original
by Matthew Blake
5:51pm
Wed Jul 18, 2012
2 comments

TIF Piggybank Running Low

Taxes

Chicago’s rapid expansion of the controversial Tax Increment Finance, or TIF, program during the housing bubble has arguably started to back fire.

PI Original
by Ellyn Fortino
4:02pm
Wed Jul 18, 2012
2 comments

Illinois Should ‘Heed The Call’ Of New Report’s Warnings Against Additional Social Service Cuts

State Budget

Illinois is facing major threats to its ability to provide basic public services, such as investing in children and teachers and caring for the needy, a report released Tuesday by the State Budget Crisis Task Force shows.

Quick Hit
by Matthew Blake
5:30pm
Tue Jul 17, 2012
2 comments

Pension Changes Scare Away Potential Public Employees

That is the conclusion of a new report from the Urban Institute, which examined not one, not two, but five rounds of cuts New Jersey made to its public employee pension system since 2007. A 25 year-old who becomes a New Jersey public employee tomorrow would actually lose retirement money under the latest pension plan if they quit their job before turning 50.

The study generally applies to Illinois as well. The state instituted sweeping changes in its pension program two years ago for incoming employees and is, of course, exploring further reductions for current and retired public workers. Read more »

Quick Hit
by Matthew Blake
4:44pm
Mon Jul 9, 2012
2 comments

State Tax Credit Program To Become More Transparent

Gov. Pat Quinn signed into law Friday legislation that makes Illinois disclose the terms of most of its major corporate tax breaks on a state Web site.

But the law only makes the Economic Development for a Growing Economy, or EDGE, tax credit program more transparent. It does not reform a somewhat convoluted tax credit program one watchdog assailed as “corporate blackmail.” Read more »

Quick Hit
by Brandon Campbell
1:48pm
Wed Jun 27, 2012

Chicagoans Decry Use Of TIF Dollars For West Loop Office Park (VIDEO)

Mayor Rahm Emanuel’s recent decision to chip in about $30 million for a subway tunnel and a 1.5-acre public park to be built alongside a new West Loop office building has got some Chicago residents upset.

On Tuesday morning about 70 community activists marched to the Mayor’s Office from the proposed site of the 45-story, $300 million River Point development near Lake and Canal Streets. The group said they want the city’s money used for parks in the city’s poorest neighborhoods, not in Chicago’s thriving downtown area.

Read more »