The unfunded portion of Illinois pension funds now stands $70 billion. That total can and should be substantially reduced without raising the state income tax, according to Jim Tobin, President of National Taxpayers United of Illinois (NTUI). In addition to the $11.5 billion the state will receive over the next 20 months from the federal government’s ‘stimulus’ package, unfunded pension problems for new hires can be avoided.
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The purported $9 billion deficit in state revenues will be wiped out without raising the state income tax, according to Jim Tobin, President of National Taxpayers United of Illinois (NTUI). Tobin cited the massive funds Illinois will receive from the federal government’s “stimulus” package.
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