As Illinois' debt continues to rise, the budget has far from decreased, leaving the state struggling to come up with the income its needs to fund its various spending projects—including its public pension.
Even with some of the highest property taxes in the nation, a group of economists from the Federal Reserve Bank of Chicago have suggested the idea of a 1 percent statewide property tax increase. While this may not seem like much money in the grand scheme, it will make living in the heavily taxed state even more expensive for residents who are already overburdened.
Jillian Rose Bernas, a Republican candidate for the 56th House District, commented on the proposed tax and what it would mean for residents.
"I oppose the statewide property tax proposed by three authors at the Federal Reserve of Chicago," Bernas told the North Cook News. "These individuals clearly do not understand the struggles of homeowners in this state, and they make some strong assumptions in the article. To start, how can we trust ruling-class politicians to pay down pension liabilities with these tax revenues? They have failed us each and every time in the past."
Read the article here.