Will County Democratic Central Committee - News




Illinois school districts still fatten pensions, pay millions in penalties

Author: Editor

Glenbard Township High School District 87 made a little-noticed wire transfer to the state two years ago, $164,198 that was never discussed in public.

What taxpayers weren't told was that the payment was required by state law because the west suburban district had given hefty pay hikes to two retiring educators, helping fatten their pensions.

A 2005 pension law was intended to rein in big salary spikes that boost retiree benefits and pension costs statewide, imposing cash penalties on districts that gave raises larger than 6 percent to outgoing educators.

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Senate Republicans block student loan bill

Author: Editor

Senate Republicans on Wednesday blocked legislation aimed at letting people refinance their student loans at lower rates, a pre-ordained outcome that gave Democrats a fresh election-year talking point against the GOP.

The 56-38 vote fell short of the 60 that would have been needed to advance to debate on the measure by Sen. Elizabeth Warren, D-Mass. Her bill would have let millions of borrowers, some with years-old debt and interest rates topping 7 percent or more, refinance at today's lower rates.
The bill would have been paid for with the so-called Buffett Rule, which sets minimum tax rates for people making over $1 million.

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