Dupage Policy Journal

Burr Ridge business owner Margot Henshaw has voiced her strong condemnation of former Illinois House Speaker Michael Madigan, whose 36-year tenure is widely seen as having played a significant role in the state's ongoing fiscal crisis.

Madigan, who served as the Illinois House Speaker from 1983 to 2021, was convicted on 10 counts of conspiracy, bribery and wire fraud in relation to corrupt schemes involving the state’s largest utility, ComEd. 

Henshaw argues that Madigan’s legacy will be defined by the financial destruction he caused to Illinois. 

“When one thinks of Madigan's legacy to the state of Illinois, unsustainable debt and skyrocketing property taxes come to mind,” Hensha, the owner of The Prince's Table and Liberty Luxury, told the DuPage Policy Journal. 

Henshaw, a vocal critic of the state's financial mismanagement under Madigan’s leadership, highlighted the significant influence the former Speaker held over property tax appeals. 

“Rumor had it that 70% of the buildings in Chicago appealed their property taxes through Madigan's law office,” she said. “One has to wonder who comprised the clueless 30% who didn't appeal through his office.” 

She also pointed to a deeper systemic issue: the powerful public sector unions that she believes have led to Illinois’ financial woes. 

Henshaw argued that Madigan could have taken steps to rein in the influence of these unions, which she claims have “damned Illinois to tax-hell status.”

Even the original old socialist FDR maintained that public - sector unions could never be allowed because the customer base was captive to their power,” Henshaw said. “Parents can send their children to a parochial school to avoid anti-American indoctrination and the encouragement of libidinous activity in kindergarten, but they are still forced to fork over some 75% of their bloated property tax bill to the teachers union.” 

She also discussed the pension system under Madigan’s rule, criticizing it for allowing government employees, including teachers, to collect multiple pensions and receive full benefits even after leaving the state. 

“Under Madigan's aegis, government employees can collect multiple pensions, rather than selecting the best one,” Henshaw said. “Unlike New York City retired teachers, our teachers are allowed to leave the state and still collect their full Illinois pension, instead of 80%. We had one principal who took his retirement and moved to Indiana immediately so his three sons could take advantage of the cheap in- state tuition there, Illinois was too expensive.”

Henshaw believes that Madigan’s influence over the state’s financial system has had a lasting and devastating impact on Illinois. 

“The lasting imprimatur of Madigan will be the financial destruction of Illinois,” she said. “The NYSE today announced that they are moving their Chicago operation to Dallas. Money goes where business is encouraged. Onerous building codes, capricious property taxes and in general high taxes in nearly every category are not a recipe for success. Others have left and more will leave.” 

Henshaw drew a stark comparison to the city’s earlier history, pointing to the visionary work of architect Daniel Burnham, who helped rebuild Chicago after the Great Fire. 

“Can you imagine Daniel Burnham trying to rebuild Chicago after the Great Fire and having to consider tax ramifications of his ideas as the regulating government martinets bite at his heels with their greedy paws outstretched, clawing for a kickback?” she asked.

His trial included extensive wiretap evidence and recordings that revealed how Madigan used his political power for personal gain, which ultimately led to his downfall. Madigan’s conviction has been widely viewed as a significant turning point in Illinois politics, exposing the deeply entrenched culture of corruption under his leadership.

Henshaw’s criticism of Madigan aligns with a broader consensus among experts, who have long pointed to the former Speaker’s control over the state’s budget, pension system, and legislative process as major contributors to Illinois’ financial struggles. 

According to Illinois Policy, Madigan’s policies helped create the nation’s worst pension crisis, pushed through generous pension benefits without proper funding plans, and left the state with a near-junk credit rating. As a result, Illinois has faced skyrocketing debt, high taxes and an exodus of residents.

Illinois has averaged more than one corruption conviction per week from 1983 to 2023, coinciding with the leadership of former Madigan. 

Over that 40-year period, there were 2,168 convictions, with Madigan playing a central role in the state’s political landscape until his departure in 2021.

The challenges facing Illinois are further compounded by the legacy of corruption that continued even after Madigan’s departure in 2021. 

The state saw a record 59 corruption convictions in 2023, the majority of which stemmed from the Northern District, which includes Chicago. Despite the ongoing corruption issues, Henshaw remains firm in her belief that reform is possible.