
Spotlight Politics: Chicago's $37.2B Pension Debt
Clip: 7/2/2024 | 7m 15sVideo has Closed Captions
The WTTW News Spotlight Politics team on the day's top stories.
The U.S. Supreme Court passes on hearing the case against Illinois' assault weapons ban — for now. Chicago's growing pension debt. And Independence Day drivers beware: A bump in the gas tax is here.
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Spotlight Politics: Chicago's $37.2B Pension Debt
Clip: 7/2/2024 | 7m 15sVideo has Closed Captions
The U.S. Supreme Court passes on hearing the case against Illinois' assault weapons ban — for now. Chicago's growing pension debt. And Independence Day drivers beware: A bump in the gas tax is here.
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Learn Moreabout PBS online sponsorshipON HEARING THE CASE AGAINST ILLINOIS'S ASSAULT WEAPONS BAN.
FOR NOW, MEANWHILE, CHICAGO'S GROWING PENSION DEBT AND INDEPENDENCE DAY.
DRIVERS BEWARE.
NOT NASCAR.
A BUMP IN THE GAS TAX IS HERE.
ALL THAT AND MUCH MORE IN OUR SPOTLIGHT.
POLITICS.
I'M HERE WITH THE AND OF IN A KEY AND HEATHER, SURE AROUND.
GOOD TO SEE BOTH YOU.
SO AS WE'VE BEEN TALKING ABOUT TONIGHT, SUPREME COURT PASSED ON THAT ASSAULT WEAPONS CHALLENGE.
BUT JUSTICE THOMAS WANTS THE COURT TO TAKE THE CASE WHEN IT'S FULLY BAKED HIM.
AND WHAT ARE THE DETAILS THERE?
YEAH, BUT WE ALSO THE NUTLEY JUSTICE ALITO SAYING THAT HE WOULD HAVE TAKEN THIS UP RIGHT NOW.
THIS IS CASE THAT REALLY HEARKENS BACK TO TIMELY, UNFORTUNATE, TRAGIC 2 YEARS AGO WHEN THERE WAS A HORRIFIC MASSACRE.
APRIL 4TH OF JULY PARADE IN HIGHLAND PARK THAT LED ILLINOIS 6 MONTHS LATER TO PASS.
WHAT'S BROADLY KNOWN AS AN ASSAULT WEAPONS THE TERMINOLOGY GUN-RIGHTS ACTIVISTS TAKE UMBRAGE WITH SAYING THAT THESE ARE COMMON GUNS SUCH AS THE AR 15 THAT ARE BEING BANNED BY THIS LAW AND BETH IMPACT, PART OF THE ARGUMENT THAT YOU JUSTICE THOMAS WEIGHT IF THERE'S A LAW THAT IS GOING TO MAKE ILLEGAL AND DOESN'T MAKE A LEGAL ONE OF THE MOST COMMON GUNS IN THE UNITED STATES?
WE NEED TO DEAL WITH THAT.
REALLY.
WHAT IT COMES DOWN TO IS THE LOWER COURTS ARE STILL DEALING WITH THIS ON.
YOU HAD VARIETY MIXED OPINIONS, INCLUDING ONE THAT DID NOT RULE ON THE CONSTITUTIONALITY OF THE ACTUAL SECOND AMENDMENT RIGHTS OF THIS CASE.
SO REALLY, WE'RE STILL WHAT GOES FORWARD HERE.
BUT IT MEANS FOR NOW THAT THE U.S.
GUN CONTROL MEASURE, WHICH PUT A BAN ON REALLY HUNDREDS OF GUNS AS WELL AS CAP ON THE NUMBER OF MAGAZINES THAT CAN BE PURCHASED AND USED.
THAT'S REMAINS IN PLACE FOR NOW AND SEEMS LIKE IS IT'S A FAIRLY COMPLEX CASE.
THE TIMELINE HERE IS PRETTY MURKY IN TERMS OF IF IT EVER MAKES IT UP TO THE SUPREME COURT WHERE THINGS GO NEXT.
YEAH, WE DON'T HAVE ANY SORT OF TIMELINE.
DON'T KNOW WHAT THE COURTS ARE GOING TO DO OR WHEN YOU SURE HEATHER, CHICAGO'S UNFUNDED PENSION DEBT UP NEARLY 5% ABOUT 2 BILLION DOLLARS TO 37.2 BILLION.
HOW BIG A PROBLEM IS THIS FOR MAYOR AND CITY LEADERS SEEMS LIKE AN OBVIOUS QUESTION, BUT I HAVE TO SCALE.
IT IS VERY BIG PROBLEM BECAUSE FINANCES 0 SUM GAME.
IF YOU HAVE TO SPEND NEXT YEAR CLOSE TO 30 BILLION DOLLARS JUST TO SORT OF SERVICE THE DEBT, THERE'S A LOT LESS YOU CAN DO IN TERMS OF PROGRAMS LIKE MENTAL HEALTH CARE OR ADDITIONAL VIOLENCE INTERRUPTION OR ANY OF THE THINGS THAT MAYOR BRANDON JOHNSON CAMPAIGNED ON THE ONLY SLIGHTLY GOOD NEWS IN THIS REPORT OUT THIS WEEK, WHICH IS THE CITY'S ANNUAL FINANCIAL REPORT, WAS THAT SHARE OF THE PENSION?
LET THAT PENSIONS ARE A BIT BETTER FUNDED THIS YEAR THAN THEY WERE LAST YEAR.
LAST YEAR.
THEY WERE 24% FUNDED.
IT'S ALL THE WAY UP TO A GRAND SPANKING.
TOTAL OF 26% FUNDING KEEP IN MIND THAT THE CITY SPENT AN EXTRA 300 MILLION DOLLARS THIS YEAR TO SORT OF MAKE SURE THAT THE PENSIONS CAN GET EVEN WORSE.
AND IS THERE A SENSE OF URGENCY TO FIND SOME NEW REVENUE SOURCES TO HELP PAY DOWN THAT SURE IS.
AND THE CITY IS SORT OF ENTERING WHAT WE LIKE TO REFER TO IS BUDGET SEASON.
IT'S NOT JUST THE THING.
IT'S A TIME OF YEAR AND THAT THEY WILL START TRYING TO FIGURE OUT HOW TO MAKE ENDS MEET BECAUSE REALLY, FOR DECADES, THE CITY'S FINANCES HAVE BEEN OUT OF WHACK NOT SOLELY BECAUSE OF PENSIONS, BUT IT IS A LARGE PART OF THE PROBLEM.
AND I KNOW BUDGET SEASON IS YOUR FAVORITE OF ALL THE LIKE SUMMER.
SOME NEW LAWS JUST WENT INTO EFFECT YESTERDAY, INCLUDING AN INCREASE ON THE GAS TAX JUST IN TIME FOR HOLIDAY TRAVEL.
AMANDA, WHAT SHOULD BE EXPECTING TO PAY AND WHERE THOSE TAX DOLLARS GOING TO GO?
HOLIDAY TRAVEL THEY BELIEVE IT SUPPOSED TO HIT YET ANOTHER RECORD POST COVID.
EVERYBODY WANTS TO HIT THE ROAD.
GO SOMEWHERE.
NOW IF YOU FEEL UP YOUR TANK, AT LEAST IN ILLINOIS.
AND THIS IS ALWAYS A POINT OF CONTENTION, PARTICULAR WITH LEGISLATORS WHO REPRESENT COMMUNITIES THAT ARE ON THE BORDER SAY OF WISCONSIN OR IOWA PEOPLE AREN'T GOING TO GET TEAR GASSED IN ILLINOIS.
INSTEAD, THEY'LL TRAVEL TO ONE OF THOSE STATES THAT'S GOING COST AN EXTRA $0.02 A GALLON.
THAT'S JUST THE LAW THAT THAT'S HOW IT GOES.
IT PAYS ACTUALLY FOR THE ROADS.
AND SO WHEN YOU'RE LOOKING AT, YOU KNOW, POTHOLES AND REPAIRS AND THE HIGHWAYS, THAT'S WHAT THAT EXTRA MONEY AT PUMP GOES TOWARD.
BUT IT'S GOING TO BE COMING, I GUESS, CREDIT GREAT TIME TO HURT TAXPAYERS IN THEIR WALLET OR MOTORISTS ANYWAY.
BUT IT WILL BE TO THE BENEFIT OF THE STATE BUDGET.
ALL WELL, THIS IS A VERY MONEY HEAVY SEGMENT TONIGHT, BUT CHICAGO'S TIPPED WORKERS ALSO SEEING THEIR WAGES RISE AS PART OF A SLOW RAMP-UP TO PARITY WITH MINIMUM WAGE IN 4 YEARS.
HEATHER DIDN'T.
IT'S LIKELY INCREASED.
LABOR COSTS ARE GOING TO STEEPER BILLS FOR RESTAURANT WELLS RESTAURANT OWNERS ARE REALLY WORRIED ABOUT THIS BECAUSE THIS SORT OF STARTS TO SHIFT THE BURDEN FROM DINERS AND PATRONS TO SORT OF MAKE UP THE SALARIES FOR WAITERS AND WAITRESSES, 2 FRONTS FROM THE PATRONS THEMSELVES TO THE RESTAURANTS THEMSELVES.
SO EVERYBODY'S SUPPOSED TO GET LEAST THE MINIMUM WAGE, WHICH ALSO WENT UP.
AND RESTAURANT WORKERS DON'T GET THAT IN TIPS, THE RESTAURANT OWNERS ARE SUPPOSED TO MAKE THAT OUT.
WHETHER THEY DO OR DON'T ALWAYS IS A POINT OF CONTENTION.
BUT THIS IS REALLY SORT OF THE CENTERPIECE OF MAYOR BRANDON JOHNSON, SORT LABOR AGENDA IN HIS FIRST YEAR IN OFFICE.
HE SAYS THIS IS REALLY ABOUT EQUITY AND THAT PEOPLE SHOULD NOT HAVE TO SORT OF EXPOSE THEMSELVES TO SORT OF HAVING TO FLIRT WITH CUSTOMERS ARE SORT OF LIVE AND DIE ON SORT OF THEIR TIPS TO LIVE SORT OF A FINANCIALLY SECURE WELL, IT HAS BEEN A HUGE POLITICAL STORY THE LAST FEW DAYS AFTER THE PRESIDENT'S SHAKY DEBATE PERFORMANCE LAST WEEK.
LOT OF NERVOUS DEMS GATHERING FOR CALLS ABOUT THE UPCOMING ELECTION, INCLUDING GOVERNOR PRITZKER WHO STANDING BY THE CANDIDATES SO FAR.
AMANDA, DO WE KNOW ANY OF THE DETAILS OF THOSE CONVERSATIONS?
WE JUST KNOW THAT GOVERNOR PRITZKER WAS PART OF A CALL WITH OTHER DEMOCRATIC GOVERNORS YESTERDAY AND IS SET TO BE ON A CALL TOMORROW WITH THE PRESIDENT HIMSELF.
THIS IN V A OR WHATEVER VIDEO PLATFORM THEY USE NOT AN IN-PERSON MEETING, BUT WE DON'T NECESSARILY HAVE AN AGENDA.
WE JUST KNOW THAT THERE ARE A LOT OF NERVOUS DEMOCRATS, AS YOU NOTED, NICK, THE GOVERNOR HAS CERTAINLY BEEN STANDING BY HIS MAN THAT IS NOT UNEXPECTED.
IT PARTICULARLY GIVEN THAT HIS NAME IS ON MEDIA UNLESS I'M ABOUT QUITE SHORT LIST, BUT AT LEAST IN THE MEDIUM LIST FOR POTENTIAL REPLACEMENTS IF SOMETHING WERE TO HAPPEN, THE VERY, VERY TOP OF THE TICKET.
SO YOU'RE NOT GOING TO PRITZKER BEING THE ONE TO SPEAK UP, TRYING TO OUST BIDEN.
WE'VE GOT ABOUT 15 SECONDS LEFT.
TODAY WAS THE FIRST DEMOCRATIC OFFICIAL TO PUBLICLY CALL ON BIDEN TO STEP DOWN.
HEATHER, PUT YOUR PREDICTION CAP ANYMORE.
SO WE JUST HEARD THE PRESIDENT SORT OF AN EVENT SAYING THAT HE WAS TIRED FROM ALL OF THE INTERNATIONAL TRAVEL THAT HE HAD MADE AND THAT HE DIDN'T THINK IT WOULD BE A FATAL FLAW TO HIS CAMPAIGN.
SO HE CERTAINLY HOPES HE'S THE LAST.
ALL RIGHT.
WELL, TIME WILL TELL ALWAYS A PLEASURE TO SEE
Explaining the SCOTUS Decision on Presidential Immunity
Video has Closed Captions
Clip: 7/2/2024 | 10m 7s | The 6-3 ruling dramatically expands the power of the president. (10m 7s)
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