The Illinois State Senate President, Don Harmon, recently sent a letter to Congress requesting $40 billion to aid our state in recovering from the COVID-19 pandemic. Part of that request included $10 billion dedicated to propping up long mismanaged Illinois state pension fund.
What Illinois needs is pension reform, not a federal bailout. This situation highlights the need for the Illinois’ legislature to:
- Reform the pension system to reduce long-term liabilities and make the system more equitable to the people of Illinois before federal money is used to support the pension system.
- Reduce state and local spending and make the government more flexible and responsive to the people.
- Reduce spending mandates on local governments in order to provide the same flexibility the state is seeking for the use of federal dollars.