The road to solvent Illinois pensions requires a tollway lease

If ever there was a time for the Pritzker administration to live up to its campaign exhortation to “think big,” this is the moment. The bond rating agencies’ “meh” response to plans for corralling Illinois’ mushrooming unfunded pension liabilities begs the governor to rethink his reluctance to firmly embrace a public-private partnership (P3) for leasing the Illinois Tollway.

In all fairness, Gov. J.B. Pritzker faces limited and all-too-familiar options to impact this debilitating problem.

However, if there’s an area where the governor has the mojo for this battle, it’s that he’s built considerable investor cred analyzing risk, flexing his leverage and maximizing the value of assets during his accomplished private-sector career.