Metro East Sun

Doug Jameson believes that many residents fear Illinois’ growing pension debt crisis is on the verge of getting worse.

“How can they not feel that way when even as we’ve already got the highest tax burden overall and the second highest property taxes in the country you’ve got a billionaire gubernatorial candidate on the Democratic side, who’s never served in public office before, saying ‘I want to tax every mile you drive; I want to increase income taxes on anyone making more than $17,300 and I want to increase your property taxes by 1 percent,’” Jameson told the Metro East Sun. “The issue with taxes just keeps growing and the problem is only going to get larger until we deal with the systemic causes of it.”

A new Moody’s Investors Service report reveals that unfunded pension liabilities spiked by another 25 percent in fiscal year 2017 to $250 billion overall. In addition, “own resource” revenue, or all monies collected by the state with the exception of federal funds, now equates to 601 percent, compared to the national average of just 107 percent.

Rep. Jay Hoffman

Moody’s and S&P Global previously lowered the state’s bond rating to a single notch above junk status and since 2009 the state’s credit rating has similarly been downgraded at least 21 times, Illinois Policy Institute reports. 

A low bond rating can factor into the rate the state borrows at, ultimately making it more challenging and costly for the government to maintain many of the basic services taxpayers have come to expect and demand.

“Things are totally out of control and pension liabilities have to be addressed across the board from the state to county level and from judges to regular employees,” said Jameson, running against Rep. Jay Hoffman (D-Swansea) in the 113th House District. “I’ve knocked on more than 14,000 doors during my campaigning and I can tell you this issue has become so serious that 1 in every 3 people I talk to has moved out of Illinois or is soon planning to do so.”

None of the structural change that’s now needed to save the state is likely to occur until after longtime House Speaker Mike Madigan (D-Chicago) is ousted from power, Jameson said.

“It will take a Republican House majority to address all the problems Madigan has caused in his 43 years of being in power and the 22 he has had Hoffman at his side as his top assistant and labor committee chairman,” Jameson said. “Just think about it, all this talk of raising taxes, even more, comes after both Madigan and Hoffman supported last year’s 32-percent income tax hike. It’s like we now have a government working against us.”

The 113th District includes all or parts of Brooklyn, Caseyville, Fairmont City, Pontoon Beach, Shiloh, Swansea and Washington Park.