* From the WSJ editorial board…
Illinois residents have watched for years as their taxes go up while public services and schools deteriorate. But GOP Gov. Bruce Rauner will deliver Prairie Staters some good news Thursday by signing into law an inaugural state private-school choice program.
The Democratic legislature this week approved a $100 million tax-credit scholarship program along with a new school funding formula that provides an additional $450 million for the insolvent Chicago Public Schools. The Governor earlier this summer vetoed legislation that appropriated $300 million more for Chicago schools, but Democrats lacked the votes to override him.
Mr. Rauner demanded a private school tax-credit scholarship program in return for his signature, and Democrats ultimately conceded despite union protests. Illinois businesses and individuals will receive a 75% tax credit for donations that support scholarships for low-income kids to attend private schools. […]
As for Chicago, most of the state bailout will go toward propping up the teachers’ pension fund, which is 50% funded.