The Chicagoland Chamber of Commerce has released a statement voicing opposition to SB1937, a proposed piece of legislation that would affect the state's pension system.
“Make no mistake, SB1937 would dramatically exacerbate Illinois’s already unsustainable pension crisis, further burden taxpayers across every corner of our state, and impede economic growth. At a time when Illinois residents are already overwhelmed by excessive taxation, the passage of this bill—which effectively levies a property tax on every household in the state—would be the definition of irresponsible,” said , President and CEO of Chicagoland Chamber of Commerce. “Local governments are already struggling, and this will only add to the existing pension burden, without any proof of positive impact of on local pension funds. We urge lawmakers to reject this bill to protect the fiscal health of hardworking Illinois families, local municipalities and the state.”