Pension problems will persist into next decade

Published 10/29 2013 11:00AM

Updated 10/29 2013 11:03AM

SPRINGFIELD -- Problems with pension continue to have a choke-hold on the state's budget. Now one group says, even if the recent tax increase sticks around, the state will still be in dire straits.

Illinois raised its income tax by 2% to 5% in 2011. That increase is expected to start going away next year.

The Institute of Government and Public Affairs at the UI says, even if the increase becomes permanent, the state will still face a budget deficit of $7 billion ten years from now.

Copyright 2015 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Featured Coupon