Illinois FY2021 Budget Relies on Federal Loans and Backlog Borrowing
When Illinois lawmakers met in Springfield to pass a budget for the upcoming fiscal year, the main issue they confronted was the tax…
UPDATE: Since the Civic Federation published this blog post, there have been two significant updates to report, as detailed in this follow-up post…
UPDATE: On May 5, Illinois…
The $2.2 trillion economic relief legislation passed by Congress in late March contains significant new funding for States and large local governments. Exactly how…
Like most states that levy income taxes, Illinois has followed the federal government in…
States are currently facing monumental fiscal challenges posed by the economic and revenue impacts of the coronavirus pandemic. However, their ability to use fiscal policies to address these challenges is quite limited due to structural…
As state and local governments continued to increase the intensity of their responses to the Covid-19 pandemic, this article examined the effect social distancing and business closures could have on state and local budgets. Civic…
The coronavirus could have a devastating impact on the State of Illinois’ tax revenues, according to the first official State report that attempts to quantify the fiscal fallout from the crisis. The…
Throughout the United States there is a…