More on Illinois' pensions: Yup, we're kicking the can
Recently, Illinois Deputy Gov. Dan Hynes gave a speech outlining the Pritzker administration's plan for solving the pension funding crisis in Illinois. Not surprisingly, given prior statements, no reform of the pension benefits themselves is on the table. And, no, this is not because they judge it not to be feasible to implement the required constitutional amendment, given that their overall financial plan hinges on another constitutional amendment; the current Illinois constitution prohibits a graduated income tax and they've promised that they'll obtain pension and other funds through the implementation of what they call a "fair income tax" in fewer than two years.
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