Saturday meeting fails to produce pension plan – DailyHerald.com

6 Jan

SPRINGFIELD — Two years ago, the current members of the Illinois General Assembly took their seats only hours after their predecessors — facing a seemingly insurmountable budget deficit — and took a late-night vote to raise the state’s income tax rate.

The hotly controversial move significantly cut the staggering deficit but also left lawmakers with a state still crippled by debt.

Now, as that group is about to leave office Wednesday, a similar 11th-hour showdown looms over both Illinois’ financial future and the retirement security of thousands of teachers, road workers, prison guards and others. As the House prepares to meet this afternoon, there still is no agreement on a plan that could garner enough support to pass. More…

via Saturday meeting fails to produce pension plan – DailyHerald.com.

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