Can't fix Illinois' budget without tax hikes, Civic Federation says
This article discusses recommendations made in the FY2016 State Budget Roadmap, an annual report released by the Institute for Illinois' Fiscal Sustainability at the…
This article discusses recommendations made in the FY2016 State Budget Roadmap, an annual report released by the Institute for Illinois' Fiscal Sustainability at the…
In a report released today, the Civic Federation’s Institute for Illinois’ Fiscal Sustainability proposes a comprehensive five-year plan that responds to the dire reality of Illinois’ financial condition with painful, but necessary…
Prior to the release of the Governor’s annual budget recommendation, the Institute for Illinois’ Fiscal Sustainability at the Civic Federation releases an analysis of the State of Illinois’ fiscal condition and proposes a comprehensive…
This article discusses a proposal by Governor Bruce Rauner to allow cities, towns and counties in Illinois to file for bankruptcy protection. The Civic…
A 2009 GFOA white paper identified long-term financial planning as the central tool for local governments to become financially resilient. Financial resiliency is…
The State of Illinois projected a major loss of income tax revenues in FY2015 due to the reduced rates for individuals and corporations that took effect on January 1, 2015. However, corporate income taxes have taken a steeper decline than…
According to a recent study, the State of Illinois does not set aside enough revenue to account for fluctuations in its volatile tax sources and needs to improve its rules for making rainy day fund deposits in order to prepare for future…
A drop in Illinois’ income tax rates—and uncertainty about the implementation of pension changes—could cause the State’s backlog of unpaid bills to grow to $9.9 billion by the end of the 2016 budget year, according to a new forecast by…
This Marketplace Morning Report discusses the expiration of Illinois' temporary income tax increase on January 1, 2015. As discussed here, the reduction…
The following posts were among the most highly read on the Institute for Illinois’ Fiscal Sustainability’s blog in 2014 and represent the most closely followed Illinois fiscal issues of the year: State pension reform and the State budget…