For months, Illinois Senate President John Cullerton has maintained that a high-profile measure aimed at getting a handle on the state's vastly underfunded pension system would be declared dead in the courts if it ever passed the General Assembly.
For months, Illinois Senate President John Cullerton has maintained that a high-profile measure aimed at getting a handle on the state's vastly underfunded pension system would be declared dead in the courts if it ever passed the General Assembly.
The Illinois Senate voted Tuesday to approve a tax-break package designed to keep Chicago's financial exchanges and Sears Holdings Corp. from leaving the state, but the fate of the deal remained in question. The Senate voted 36-18 to pass its version of the tax-relief package, sending the measure to the House, which was poised to vote on its own plan, offering less to the working poor and individual taxpayers.
I hate to rain on Rep. Mark Kirk's parade twice in one day. But, well, here goes... This 2008 story by the folks at Progress Illinois is worth another read now that Kirk is carping about U.S. Senate opponent Alexi Giannoulias' tax refund.
The upshot of the Kirk story: The congressman bought a house in 2001 and sought a tax freeze available to property owners who renovate their historic homes. It's a benefit that will never be available to most Illinois residents, and one that cut his taxes by thousands.
The coverage doesn't specify whether Kirk's historic house was made of glass, but you can draw your own conclusions.
Several weeks ago I noted that Democratic Senate contender Alexi Giannoulias seemed to be following a curious strategy of delaying release of his personal tax returns.
If there were anything untoward in the returns, I argued, it would make sense for Giannoulias to release them earlier rather than closer to the election.
But what would make the most sense of all? Releasing the tax info on Friday afternoon preceding a holiday weekend, when no reporter on earth is going to spend time digging through it. Read more...
