This just in… Madigan moves pension reform bill… House takes up bill… Pension bill zooms out of House… Pension bill breezes through Senate
Wednesday, Mar 24, 2010
* 12:12 pm - As I already told subscribers this morning, Speaker Michael Madigan has moved a pension reform plan that is hotly opposed by the unions. The bill passed the House Personnel and Pensions Committee by an 8-2 vote. The two “No” votes were both Springfield-area Republicans, Raymond Poe and Rich Brauer.
Madigan is expected to run a floor vote today and the Senate is expected to take up the bill as early as tomorrow.
The legislation creates a two-tiered pension system. It raises the retirement age, gets rid of double-dipping by a retiree if that person gets another public job, limits pensionable salaries to $106,800, etc…
Speaker Madigan talked to reporters afterward. Among other things, he wasn’t optimistic that Republicans would support the pension bill. Watch the avail…
We’ll have budget director David Vaught’s comments in a bit as well as committee testimony by at least one opponent.
* 12:17 pm - From an IFT spokesperson…
* 12:25 pm - Budget director David Vaught testifies…
* 12:58 pm - Rep. Raymond Poe (R-Springfield) asked Speaker Madigan a whole lot of questions. Here’s part one…
*** 1:54 pm *** The House Republicans asked for a one-hour conference as soon as Madigan’s bill was brought up on the floor. They need to figure out what they’re gonna do. Back at 3ish.
*** 2:34 pm *** The IFT has issued a fact sheet on the bill. Click here.
And here’s IFT’s pension testimony.
*** 3:48 pm *** The House is now bebating the bill on Third Reading.
*** 5:05 pm *** The House approved the pension bill 92-17-7. Speaking to reporters minutes after the vote, Speaker Madigan said he expects the Senate to call the bill either tonight or tomorrow morning.
*** 8:20 pm *** Senators sent the pension reform bill that began movement in a House committee this morning to Gov. Pat Quinn by a 48-6-3 vote. From the committee hearing where Speaker Madigan read the amendments to SB1946 to the final Senate vote, it took the Legislature roughly 10 and a half hours to approve the bill.