Report: Nixing Colleges, Taxing 401Ks Could Balance State Budget
Illinois’ financial woes continue to climb as the state seeks both sources of new revenue and ways to cut spending. But a new report from the Civic Federation, a nonpartisan watchdog group, puts forward a suggested budget plan to help the state tackle its debt within five years.
The proposal includes cutting loose some of the state’s universities, taxing retirement income, and consolidating some townships, among other suggestions. Morning Shift discusses how Illinois can get its fiscal house in order.
Laurence Msall, Civic Federation president