SUBSCRIBE to Capitol Fax      Advertise Here      Mobile Version     Exclusive Subscriber Content     Updated Posts    Contact
CapitolFax.com
To subscribe to Capitol Fax, click here.
Fun with money

Monday, Apr 28, 2014

* So, the question becomes, where the heck does the governor expect to find hundreds of millions or even billions a year to fund this idea?

Gov. Pat Quinn is offering a possible new solution to Chicago’s pension crisis suggesting the state could do more to share revenue with local municipalities.

Following a City Club of Chicago luncheon today, Quinn told reporters that a discussion needs to happen over giving local municipalities a larger percentage share of the state’s revenue. That means that the percentage of state money Chicago or other muncipalities receive from the state would increase. Quinn said the plan would work through his budget proposal, which called for an extension of a income tax hike as well as a $500 property tax rebate.

“I believe in that. I think that’s a good way to help local units of government and the school districts to some extent reduce their reliance on property taxes,” Quinn said. “That has to be one of our foremost missions in Illinois. The property tax collects more money every year than the income tax and sales tax combined. I want to reduce our property taxes.”

Killing off the $700 million “property tax relief” plan would be a start, but even that may not be enough.

- Posted by Rich Miller        


35 Comments
  1. - wordslinger - Monday, Apr 28, 14 @ 2:11 pm:

    –…the state could do more to share revenue with local municipalities.–

    It could?

    Quinn can’t compete with Rauner on phony-baloney budget pipe dreams. He shouldn’t try.


  2. - Norseman - Monday, Apr 28, 14 @ 2:14 pm:

    If anyone reading this doesn’t understand why we have a fiscal problem in the State of Illinois, then get yourself a guardian. Candidates and elected officials love to offer up new ideas for programs and services to ingratiate themselves with the voters, but rarely support the funding to pay for them.


  3. - OneMan - Monday, Apr 28, 14 @ 2:18 pm:

    Looking forward to Quinn proposal to tax those running for public office who make more than 1,000,000 a year who are not named Madigan plan to pay for this…


  4. - Befuddled - Monday, Apr 28, 14 @ 2:20 pm:

    But we can’t afford to operate Murray Center.


  5. - A guy... - Monday, Apr 28, 14 @ 2:20 pm:

    Meet your Governor….plop!


  6. - Commonsense in Illinois - Monday, Apr 28, 14 @ 2:22 pm:

    I’m heading under my desk now…please let me know when the election is over…


  7. - Formerly Known As... - Monday, Apr 28, 14 @ 2:26 pm:

    The “old” math does not add up any longer. Both the media and the public are savvy to this.

    Looks like the pols are the last ones to figure this out.


  8. - OneMan - Monday, Apr 28, 14 @ 2:28 pm:

    If you cut the slices of pizza differently than before you end up with more pizza…

    Take it from a large guy, this totally works….


  9. - RNUG - Monday, Apr 28, 14 @ 2:33 pm:

    Quinn has obviously found the jar of magic beans left in the bottom desk drawer by his predecessor …


  10. - VanillaMan - Monday, Apr 28, 14 @ 2:35 pm:

    Does anyone working for Quinn have the job of just telling him to stop talking? Whoever had that job, just blew it.

    You could almost make out his train of thought - but then the train jumps track, rolls down a mountainside and then explodes into a fire ball the size of our debt.


  11. - OneMan - Monday, Apr 28, 14 @ 2:40 pm:

    Dear Governor

    It is very simple, government state and local wants to spend X, it takes in via taxes, fees and the like Y.

    Right now X is greater than Y and that is a problem, you can increase Y, you can decrease X or you can do both to try and solve the problem.

    However how much of Y goes where doesn’t solve anything…

    X > Y

    You have to fix this, and you can’t fix it without changing the value of either X or Y or both X and Y.


  12. - Formerly Known As... - Monday, Apr 28, 14 @ 2:42 pm:

    == He shouldn’t try. ==

    After so many decades of experience, Quinn can not help himself. Don’t hold it against him. It’s in his DNA by now.


  13. - Anon - Monday, Apr 28, 14 @ 2:43 pm:

    Cash strapped and I bet the Obama Library will be built


  14. - Norseman - Monday, Apr 28, 14 @ 2:45 pm:

    OneMan, don’t try to confuse the Governor with story problems. He’s struggling with his work as is.


  15. - stoney - Monday, Apr 28, 14 @ 2:57 pm:

    RUNG - Quinn may have found something in the bottom desk drawer of his predecessor but it wasn’t magic beans. Considering he must be living in a separate reality it must have been magic mushrooms.


  16. - Tom Joad - Monday, Apr 28, 14 @ 2:58 pm:

    Have schools take more money from local TIF districts. These have been pork barrel projects for 20 years. Just look at the DePaul new stadium, as a start.


  17. - Walter Mitty - Monday, Apr 28, 14 @ 3:05 pm:

    He also doubled down on the Obama library… How out of touch…


  18. - Pete - Monday, Apr 28, 14 @ 3:06 pm:

    - OneMan -

    Y becomes greater that X when the income tax remains at 5%. X will again exceed Y shortly after Nov. 4th.

    -Quinn said the plan would work through his budget proposal, which called for an *extension of a income tax hike* as well as a $500 property tax rebate.-


  19. - Anon - Monday, Apr 28, 14 @ 3:24 pm:

    Illinois Municipal League Lobby Day is Wednesday…enough said.


  20. - Formerpol - Monday, Apr 28, 14 @ 3:25 pm:

    I see a landslide building in November to sweep Quinn out of office. It will not even be close.
    That assumes that not every successful person moves out of Illinois by then.


  21. - wordslinger - Monday, Apr 28, 14 @ 3:28 pm:

    –That assumes that not every successful person moves out of Illinois by then.–

    If they’ve enjoyed success here, why would they move?


  22. - OneMan - Monday, Apr 28, 14 @ 3:33 pm:

    Pete –

    -Quinn said the plan would work through his budget proposal, which called for an *extension of a income tax hike* as well as a $500 property tax rebate.-

    So basically, he said, I am going to keep revenues about the same (keep the income tax increase) but then reduce your revenues by $700 million (the property tax break)

    So again back to the math, X isn’t going down (government spending) but government revenue Y is going to go down…

    Still the same problem….


  23. - Formerpol - Monday, Apr 28, 14 @ 3:39 pm:

    Word: They are already leaving the North Shore and Lincoln Park in droves for Florida and Texas.I have lost 20 good friends in the last year. Taxes and spending show no signs of moderating under the present ‘leadership’. They all made money despite Illinois recent incompetent government, certainly not because of it.


  24. - wordslinger - Monday, Apr 28, 14 @ 3:44 pm:

    Yeah, Lincoln Park and the North Shore are practically ghost towns. That’s why real estate is so cheap.


  25. - I B Strapped - Monday, Apr 28, 14 @ 3:49 pm:

    One Man @ 2:40- It’s a good explanation of the problem/solution but could you do it in crayon for Pat?


  26. - RonOglesby - Monday, Apr 28, 14 @ 3:50 pm:

    —-
    If you cut the slices of pizza differently than before you end up with more pizza…

    Take it from a large guy, this totally works….
    —–

    Thats why I like the square slices over the triangle slices :-)


  27. - From the 'Dale to HP - Monday, Apr 28, 14 @ 3:54 pm:

    @Formerpol, hope they realize there is practically no public transportation and the public schools aren’t nearly as good as Illinois down there. Also the summers are terrible. But good on them saving like a seven hundred bucks a year in taxes.


  28. - RonOglesby - Monday, Apr 28, 14 @ 3:57 pm:

    @From the ‘Dale to HP

    well depends… at 5% someone making 150 or so is probably saving 5-6k or more annually. The question really becomes “is that enough to move out of state?” for lots the answer is no. be acting like its $700 a year minimizes the impact. And of course most of those folks are also reading about the “Fair” tax proposals that could raise their top rate to what? 6 or 7% vs no income tax?


  29. - wordslinger - Monday, Apr 28, 14 @ 4:06 pm:

    –They are already leaving the North Shore and Lincoln Park in droves for Florida and Texas.–

    Yet median home prices in Lincoln Park are up 14% over last year and 21% on the North Shore/Barrington.

    With all those people leaving in droves, you’d think prices would be down.

    http://evanston.patch.com/groups/news-from-nsbar-on-evanston-real-estate/p/pricing-is-up-demand-increases-for-homes-on-north-shore

    http://www.zillow.com/lincoln-park-chicago-il/home-values/


  30. - From the 'Dale to HP - Monday, Apr 28, 14 @ 4:11 pm:

    @RonOglesby, without doing a perfect comparison I still highly doubt it’s $5k, it’s probably closer to $700 than $5k. You also have to factor in property taxes (guessing lower for North Shore, higher for Lincoln Park); sales tax (for sure higher); other fees (I believe higher in FLA, not sure about Texas).


  31. - wordslinger - Monday, Apr 28, 14 @ 4:14 pm:

    Formerpol, in case you don’t have time to click the link, here’s the lead from the story on North Shore real estate — one of the area’s you claim people are leaving in droves.

    –Supply and demand is no different in the housing market – and definitely not in Barrington and across the North Shore where home inventory is scarce and a buying public is actively seeking to make these two regions their home –and offering top dollar to do so, reports the North Shore-Barrington Association of REALTORS® (NSBAR) in its March housing report release–


  32. - Archimedes - Monday, Apr 28, 14 @ 4:15 pm:

    Actually, according to the 2015 budget, the Property Taxpayer Relief Fund is $1.2 billion. Maybe the $700 mil is the amount less the deduction for property tax (so the income tax receipts are higher)?


  33. - RonOglesby - Monday, Apr 28, 14 @ 5:59 pm:

    @From the ‘Dale to HP

    Already figured mine out. Texas my new home is abt the same size as my current (but on more land) and my property tax bill is about $1400 less a year than today. Sales tax 6.5 in new location vs my current of 8.5. Then my income tax rate (State) drops to 0 which is about 500+ a month for me.

    So lets not go with the closer to 700.


  34. - Sue - Monday, Apr 28, 14 @ 6:50 pm:

    Too Bad Enron is gone- Quinn have could become its CFO after January 1-Perhaps he will borrow the President’s magic wand which allowed Obama to double count the savings that ACA was to have created based on reduced spending on Medicare- If we need the income tax extended to pay for existing programs how do we suddenly find out Quinn has tons of cash to share with all of our hard pressed municipalities


  35. - dupage dan - Monday, Apr 28, 14 @ 7:21 pm:

    Governor Quinn leaves Chicago on the 9:25 am train headed for Springfield at 70mph. His brain leaves Springfield headed for Chicago in a 1978 Yugo at the same time. The question: “at what point do we realize that Quinn is asleep at the wheel?


Sorry, comments for this post are now closed.


* It ain't over until it's over, unless it's already over
* Question of the day
* Fun with numbers
* Teamsters want fired IDOT workers spared
* Rahm reverses course, Voices backs wage hike
* Fracking regs to be released Friday
* Making the big banks pay
* Quinn vetoes another speed limit bill
* Missing the point
* Ballot initiatives are definitely a major national thing
* *** UPDATED x1 *** Callis unveils first TV ad, GOP says she's "lived a life of privilege"
* Inversion and off-shoring explained in just a few words
* Yesterday's blog posts

Support CapitolFax.com
Visit our advertisers...

...............

...............


Search This Blog...

Search the 98th General Assembly By Bill Number
(example: HB0001)

Search the 98th General Assembly By Keyword

          
        * AnTuTu 5 update goes live on Google Play
        * Samsung’s New Gear S Smartwatch Features A Curved Screen And 3G Connectivity
        * LG G Watch R Will Offer A Circular Smartwatch With Android Wear In Q4 2014
        * Samsung Gear S unveiled: a Tizen watch that can stand solo
        * Samsung Gear S specs: peeking inside the 3G-supporting wristwatch
        * LG G Watch R specs: a truly powerful Android Wear watch
        * 'BioShock' for iOS Now Available Worldwide

        * Sony Accidentally Mentions Xperia Z3 Tablet Compact On Its Website
        * What To Consider When Shopping For A POS
        * Satisfying: Watch 10,000 Buckyball Cube Get Destroyed
        * Deal Of The Day: 23% Off On DJI Phantom FC40, The World’s #1 Rated Drone
        * Bistro Smart Feeder Uses ‘Cat Facial Recognition Technology’
        * Pop-up Character Bread Molds Make Breakfast Fun For Everyone
        * Navdy HUD Makes You Feel Like You’re Driving In The Future

        * Kluber miffed by post-review denial of warmup pitches
        * Abreu ups RBI total to 96 in White Sox victory
        * Danks hopes to go deep against Indians in finale
        * White Sox 3, Indians 2: Jose Abreu is up to the challenges
        * Abreu ups RBI total to 96 in White Sox victory
        * Review confirms play at plate in Indians' favor
        * Williams implores Chicago to denounce violence


        Main Menu
        Home
        Illinois
        YouTube
        Pundit rankings
        Obama
        Subscriber Content
        Durbin
        Burris
        Blagojevich Trial
        Advertising
        Updated Posts
        Polls

        Archives
        August 2014
        July 2014
        June 2014
        May 2014
        April 2014
        March 2014
        February 2014
        January 2014
        December 2013
        November 2013
        October 2013
        September 2013
        August 2013
        July 2013
        June 2013
        May 2013
        April 2013
        March 2013
        February 2013
        January 2013
        December 2012
        November 2012
        October 2012
        September 2012
        August 2012
        July 2012
        June 2012
        May 2012
        April 2012
        March 2012
        February 2012
        January 2012
        December 2011
        November 2011
        October 2011
        September 2011
        August 2011
        July 2011
        June 2011
        May 2011
        April 2011
        March 2011
        February 2011
        January 2011
        December 2010
        November 2010
        October 2010
        September 2010
        August 2010
        July 2010
        June 2010
        May 2010
        April 2010
        March 2010
        February 2010
        January 2010
        December 2009
        November 2009
        October 2009
        September 2009
        August 2009
        July 2009
        June 2009
        May 2009
        April 2009
        March 2009
        February 2009
        January 2009
        December 2008
        November 2008
        October 2008
        September 2008
        August 2008
        July 2008
        June 2008
        May 2008
        April 2008
        March 2008
        February 2008
        January 2008
        December 2007
        November 2007
        October 2007
        September 2007
        August 2007
        July 2007
        June 2007
        May 2007
        April 2007
        March 2007
        February 2007
        January 2007
        December 2006
        November 2006
        October 2006
        September 2006
        August 2006
        July 2006
        June 2006
        May 2006
        April 2006
        March 2006
        February 2006
        January 2006
        December 2005
        April 2005
        March 2005
        February 2005
        January 2005
        December 2004
        November 2004
        October 2004

        Blog*Spot Archives
        November 2005
        October 2005
        September 2005
        August 2005
        July 2005
        June 2005
        May 2005

        Syndication

        RSS Feed 2.0
        Comments RSS 2.0
        WordPress

        Loading


        * Plan to turn 311 into two-way street could help.....
        * Rauner broadens Ag Department patronage criticism..
        * Little League Win Lifts District Marred by Viol.....
        * Quinn & Rauner talk issues at agriculture round.....
        * Governor's Race and the AG Community..


        * Tripping seniors on purpose to stop future falls
        * Explosion at BP refinery, no injuries reported
        * Soler homers in debut for Cubs in 7-5 Reds loss
        * Reds overcome Soler's HR, beat Cubs 7-5
        * Chicago police commander accused of misconduct
        * Rauner broadens Ag Department patronage criticism
        * Chicagoan accused of defrauding Chinese
        * Still unclear how mortar shell ended up at plant
        * Chicago's Little League champs return as heroes
        * Vallas: Rauner plan would cost schools $4 billion

        * Renovation of Illinois Supreme Court building completed
        * Vallas: Rauner income tax rollback would cost schools $4 billion
        * Rauner: Department of Agriculture 'full of cronyism'
        * Durbin, Oberweis disagree over debate schedule
        * Concealed carry data botched by error
        * Teamsters vow to fight IDOT layoffs
        * Quinn vetoes bill raising speed limit to 70 mph on all interstates
        * Quinn vetoes bill increasing speed limit on all interstates
        * Quinn deputy staff chief going to private sector
        * Quinn signs law allow study of industrial hemp

        * State board approves pair of U of C Medicine projects
        * State board approves controversial Holy Cross psych unit
        * Baxter moving HQ from Illinois to Boston area: report
        * 49th Ward aldermanic fight off to a screaming start
        * Praise JRW Little Leaguers, but remember Hadiya Pendleton


        * JRW players celebrate with family at pizza party: ‘I’m feeling good — just happy’
        * Explosion, fire reported at BP refinery in Whiting, Indiana
        * Explosion, fire at BP refinery in Whiting
        * Reduced CTA fares available for elementary, high school students
        * CPD commander charged with official misconduct, aggravated battery
        * Balcer denies he was forced out to make way for Daley nephew
        * Lauded police commander charged with official misconduct, aggravated battery
        * Ex-cop gets curfew, additional random drug tests for allegedly violating probation


        * Firefighters battling extra-alarm blaze in Englewood
        * Durbin proposes 1 TV debate; Oberweis wants more
        * Indictment says Chicago man defrauded investors
        * Route 31 bypass opening moved to September
        * Elgin approves medical marijuana dispensary
        * Protesters march on West Side after fatal police-involved shooting
        * Gang member pleads guilty to role in conspiracy
        * Arrest warrant issued for Ex-Wheaton booster club president
        * Chicago Police commander charged with aggravated battery, misconduct
        * Woman dies following Northwest Side stabbing


        * Chicago police commander stripped of power, faces felony charges
        * Explosion at BP refinery, no injuries reported
        * Two neighbors, one big financial gap
        * In Wake Of Ferguson, Rally Planned In Springfield
        * Illinois Supreme Court Building Reveals $16 Million Improvement Project
        * Vallas: Rauner's Budget Plan "Insulting To Voters"
        * Teamsters Vow To Fight IDOT Layoffs
        * Congress Reevaluating Militarization Of Local Police
        * Lawyers fear speedy deportations harm minors
        * Chicago’s urban farms have yet to harvest sustainable jobs, better health


        * Our Opinion: Let the healing begin in Kincaid
        * Eugene Robinson: When mistakes become deadly
        * George Will: Navy with a mission in mind
        * Mark Mix: It’s Labor Day, not Union Day
        * Keith Kelleher: Was Harris v. Quinn a nail in the coffin or a shot in the arm?
        * Renovation of Illinois Supreme Court building completed
        * Bernard Schoenburg: IDOT ‘reorganization’ troubles ring a bell
        * Vallas: Rauner income tax rollback would cost schools $4 billion
        * Rauner: Department of Agriculture 'full of cronyism'
        * Our Opinion: Get off Facebook and talk to each other


        * Carbondale man arrested for armed robbery
        * Juanita Neunlist
        * Nelma Bremer
        * James Hope
        * Catherine Zoeckler
        * Shirley Dotson
        * Lillie Boucher
        * Michael Drake
        * Helen Bass
        * Mary Ann Brown


        * 'The November Man' more James bomb than Bond
        * The players aren't the only ones tested on Opening Night
        * Late columnist's spy novel hits silver screen
        * Elgin marijuana dispensary crosses hurdle
        * Epstein explains why Soler was brought to the bigs early

        * Roskam talks tax reform, health care, immi...
        * Roskam hires wounded veteran in West Chica...
        * Inactive Congress Discussed - Alton Daily ...
        * Roskam, Kirk speak to local business owner...
        * Roskam Talks Taxes - Alton Daily News
        * Nadler introduces resolution condemning an...
        * Roskam gives business leaders vision for f...
        * Nadler, Roskam Introduce Bipartisan Resolu...
        * Rep. Nadler, Roskam Introduce Resolution C...
        * Rep. Roskam In Letter to Kerry: Stop Runni...

        * Candidates Speak at Farm Event...
        * Candidates Speak at Farm Event...
        * Candidates Speak at Farm Event...
        * Candidates Speak at Farm Event...
        * Candidates Speak at Farm Event...

        * Group of Senators Call on Latin American P......
        * Council of Jewish Women backs call to prob......

        * IDOT Uses Zombie Video Series To Promote Safe Driving
        * Gay marriage holdouts? Or, where can one get a reliable ride home?
        * Suspect Arrested for Allegedly Setting Fires
        * Ashland Water Main Replacement Project - September Through December
        * Are Cell Phones Safe? The CDC Changes Its Mind
        * Chicago-Area Activists, Families Call On Holder To Investigate Shootings By Local Police
        * Karen Lewis, Chicago Community Groups To Launch New Education Campaign
        * Springfield Council Members To Take Up New Downtown TIF Project
        * CPS: 2014 Graduation Rate Hits A Record High
        * Police shooting protest 1


        * Governor Quinn Proclaims “Jackie Robinson West Championship Day” - Governor Celebrates with Team and Fans at Rally and Parades
        * State Department on Aging Recognizes Caseworkers & Ombudsmen at Adult Protection & Advocacy Conference - Award ceremony concludes the annual conference
        * IDOT, Law Enforcement Crack Down on Drunk Drivers Labor Day Weekend to Avoid Fatal Crashes - Safety Campaign Targets Impaired Drivers; Innovative New Digital Media Campaign Aims to Keep Illinois Motor Vehicle Injuries and Deaths on Decline
        * Eight Illinois Fire Departments Recognized For Their Fire Prevention Efforts - Award Recipients are an Example of Courage and Commitment to Saving Lives
        * Governor Quinn Signs Law to Stop Discrimination Against Pregnant Women in the Workplace - Governor Signs Landmark Legislation on Women’s Equality Day to Guarantee Women the Right to be Both Mothers and Employees




            Hosted by MCS SUBSCRIBE to Capitol Fax Advertise Here Mobile Version Contact Rich Miller