In discussing his pension overhaul on April 21, 2012, Gov. Quinn proclaimed he didn't create the problem, but he is here to solve it. Apparently, Gov. Quinn chooses to ignore the fact that he contributed to the crisis as the state treasurer in 1991-1995 and as lieutenant governor in 2002 and re-elected in 2006.
The four Democratic House leaders have an average 30 years of service; the two Democratic Senate leaders have an average 24 years of service; the three Republican House leaders have an average 18 years of service; and, the two Republican Senate leaders have an average 13 years of service. Their leadership actions over the years have resulted in the Illinois debt being greater than 49 states, a pension liability of $83 billion and an unfunded health care liability of $54 billion dollars.
A pillar of Gov. Quinn's new scheme to fund the $83 billion pension liability is to have local schools, community colleges and universities pay for employees pensions. This is a typical Springfield shell game to move the pension costs negotiated or condoned in Springfield to the local educational institutions and ultimately to our local property tax bills. The new revenue from Gov. Quinns recent 67 percent income tax increase will remain in Springfield to support new spending programs by the governor and the legislature. Any future negotiations with the unions will continue to be controlled in Springfield rather than at the local level that bears the cost.
Illinois property owners need to write their local state representative and senator and let them your thoughts on Gov. Quinn's reform scheme to significantly increase your local property taxes.