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Lack of pension reform hurting Illinois taxpayers

Taxpayers are on the hook for an additional 17-million dollars every day there's no pension fix. That's about 493-million dollars so far in March alone. Governor Quinn says lawmakers are close to passing a comprehensive deal, with support from both sides of the aisle.

The House has passed a bill which would raise the retirement age, change cost of living raises for retirees, and put a cap on pensionable salaries. Both Democrats and Republicans supported the bill. Quinn says the House plans to package it up and send it to the Senate when they get back from spring break.

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