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…
On a preliminary trip to Springfield after winning the November election, Governor-elect Bruce Rauner held a press conference to draw attention to some of the gimmicks…
Full analysis praises District’s long-term planning, updated pension funding goal In an analysis released today, the Civic Federation supports the Metropolitan Water Reclamation District’s (MWRD) FY2015 Tentative Budget of $1.3 billion…
The Civic Federation supports the Metropolitan Water Reclamation District’s tentative budget of $1.3 billion and praises the organization’s continued use of long-term financial planning to guide its operations and future projects. …
In an analysis released today, the Civic Federation supports the Chicago Park District’s proposed FY2015 operating budget of $448.6 million. The proposal accommodates increased employer pension contributions mandated by the District’s 2014…
The Civic Federation supports the Chicago Park District’s proposed FY2015 operating budget of $448.6 million that accommodates increased employer pension contributions mandated by the District’s 2014 pension reform legislation while…
