Despite Democratic majorities and a push from the governor, Illinois' legislative session adjourned without a bump in the minimum wage.
Lawmakers settled for putting a non-binding question on the November ballot asking if that's something voters want.
Part of the problem was that legislators from downstate -- from both parties -- were against a hike.
Andrew Biggs says it doesn't make sense to make sense to have a national, or even statewide, minimum wage. Biggs is a scholar with the American Enterprise Institute, a D.C. think tank that leans toward free enterprise.
Illinois' economy was slow to feel the effects of the Great Recession, and has been slow to recover from it. The state's Department of Commerce and Economic Opportunity is submitting a five-year plan to the General Assembly, with suggestions for business growth and more state spending.
Originally published on Wed June 25, 2014 11:03 am
The Illinois Teachers' Retirement System says it expects a lower return on its pension investments in the next year. That means the state will have to cover more of the cost of teacher pensions.
TRS says it's still a good assumed rate of investment return at 7.5 percent. That falls in line with similar pension systems nationwide. But it's not as profitable as 8-percent, which TRS had been using for the previous few years.