On Wednesday March 1, the Union League Club of Chicago will host a panel discussion exploring issues arising from the late-2016 passage of an amendment to the Illinois state constitution that established a “lockbox” for state transportation spending.
Does this sound like a compelling reason to get out of bed early, for a 7:30am breakfast?
Sometimes, the most compelling topics are ignored by the masses. This is one of them.
The “lockbox” amendment designates a special fund for motor fuel taxes, tolls, and license and vehicle registration fees, which would only be allowed for ‘transportation-related’ spending.
Sounds rational, on the surface, but this path sets a precedent for other sectors to try to carve out their own special priority in government revenue, as well, walling off sectors at potential expense for the general finances of governments. Here’s a dissection of the issues involved, written before the amendment passed.
In a way, the new "lockbox" is a symptom of the decay in Illinois finances. In bankruptcy, there is a concept called "ring-fencing," reflecting the efforts of concentrated parties to establish seniority in a failing enterprise. The Illinois lockbox sniffs a lot like this.
Government works for all, the common good, in theory anyway. In practice, special interest groups can swarm like bees over honey on the public purse, carving out benefits for their members at general expense. Passive interest from the general public yields to the concentrated forces of the few.
Wake up! Check out this meeting! You can register for the event here.