The State of Illinois ended its two-year budget impasse on July 6, 2017, enacting a $36.1 billion spending plan with about $5 billion in tax increases. To break the logjam, the General Assembly narrowly overrode Governor Bruce Rauner’s…
In the following news pieces, Civic Federation President Laurence Msall discusses details of the State of Illinois’ FY2018 budget plan and the impact the budget will have on the State’s finances. He says that the enactment of the State’s…
This segment discusses whether Chicago is on the same financial path as Detroit and whether bankruptcy is an option for the City. Laurence Msall, President of the Civic Federation, says that Chicago has a lot of great assets and strong…
This article discusses the high interest rate that the Chicago Public Schools will have to pay on $387 million in loans that the District is using as a short-term fix for its financial crisis. Civic Federation President Laurence Msall…
As the State of Illinois approaches two full years without enacting a comprehensive state budget, local governments have been forced to make difficult financial decisions to continue operating during these uncertain times. City Colleges…
This segment discusses how the State of Illinois could lose the Powerball and Mega Millions lottery games if the State does not reach a budget agreement by the end of this month. Civic Federation President Laurence Msall makes the point…
The Illinois General Assembly ended its regular session on May 31, 2017 without passing a budget, heightening concerns that the State might move into a third year without a complete financial plan. Standard & Poor’s and Moody’s…
The following news pieces cover a recent press conference held by the Civic Federation and several social service, civic and advocacy organizations. During the press conference, Civic Federation President Laurence Msall and leaders from…
This article examines the City of Chicago’s proposed short-term borrowing plan to prevent the Chicago Public Schools from ending the school year early. Civic Federation President Laurence Msall remarks that the District could pay a premium…
The following news items cover the release of the Institute for Illinois’ Fiscal Sustainability at the Civic Federation's analysis of Governor Rauner’s FY2018…
