PENSION INACTION COSTING ILLINOIS TAXPAYERS BILLIONS Friday, September 14, 2012 For more information: 630.423.

6120 Continued inaction by the Illinois General Assembly is costing Illinois taxpayers millions of dollars per day in added liability on its unfunded pension debt. In a statement released today, State Senate candidate Peter Hurtado accused his opponent, Senator Linda Holmes and the Democrat leadership of taking taxpayers for granted and thinking only of their re-election while Illinois sinks ever closer to insolvency. “Illinois’ pension debt is so out of control that every day we refuse to deal with the situation adds another estimated $12,500,000 onto our long-term debt,” Hurtado said. “Since the end of May, that added liability has risen by another $1,300,000,000 ($1.3 BILLION), and the situation is unacceptable. Rather than deal with the critical issues that face our state, though, Governor Quinn, Mike Madigan and John Cullerton are turning a deaf ear to all of us who have to pay the bills. It’s sad but true that their own re-election and hold on power mean more than the pocketbooks of you and me in our cities and neighborhoods.” Hurtado took particular aim at his opponent in the fall election, Linda Holmes, who has been silent on the issue since the General Assembly adjourned at the end of May. “Linda Holmes would have us believe that she’s working hard on behalf of the residents of the 42nd district and that she’s a leader in Springfield, but her silence on this issue of such critical importance tells the real story,” Hurtado said. “First, she’s not a leader – just a follower whose vote is there to blindly follow Madigan and Cullerton’s every demand. Second, her failure to go public and demand action on the pension crisis shows she won’t take on the party bosses and is only worried, as they are, about keeping their jobs on November 6th.” Hurtado said, when he’s elected, he’ll fight for solutions rather than remain on the sidelines and says he favors tough term limits to keep Holmes and others from simply becoming career politicians. “No one, of any political party, should be allowed to serve more than three terms in Springfield,” Hurtado said. “No one has a lock on new ideas and the General Assembly has shown over the years that real change must occur for Illinois to get back on track. With or without a law on the books requiring term limits, I pledge to abide by a three term limit, because it’s the right thing to do. Serving the people should be a calling, not a career, and I intend to serve the people of this area and my neighbors – not my own personal interests.” - 30 -

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