Lawmakers propose more transparency on town debt
(MCT) — Illinois House Republicans want more transparency and research after revelations of sky-high debt in some suburbs, but their proposals stop short of pushing safeguards other states employ.
Calling it a first step in reform, Tom Cross, R-Oswego, and Rep. Ron Sandack, R-Downers Grove, said many taxpayers face ballooning property tax bills with little means to figure out why. That includes suburbs that for years have borrowed big while failing to save enough for pensions.
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