Governor Pat Quinn has proposed eliminating several corporate tax incentives to help pay down the State’s backlog of unpaid bills that is expected to total $7.5 billion at the end of the current fiscal year. The Governor’s proposal would…
On March 6, 2013, Governor Pat Quinn issued his recommended budget for the fiscal year that begins on July 1, 2013.…
This editorial discusses Illinois’ financial crisis in the context of the income tax increase enacted in 2011 and scheduled to partially rollback on January 1, 2015. It cites the Civic Federation’s…
This blog examines some of the long-term obligations of the City of Chicago and its overlapping local governments using a per capita indicator based on bonded debt and unfunded pension liabilities. Rating agencies and other financial…
This article covers the Civic Federation’s FY2014 State of Illinois Roadmap, which projects that Illinois’ pension costs would consume nearly one-third of State-…
This article covers the Civic Federation’s FY2014 State of Illinois Roadmap, released February 25. The report projects a $22 billion backlog of unpaid bills by…
State urgently needs long-term plan to address rising pension and Medicaid costs, loss of income tax revenues (CHICAGO) – An analysis released today by the Civic Federation’s Institute for Illinois’ Fiscal Sustainability shows the State…
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. The FY2014 Roadmap includes a…
After months of uncertainty, the date of Governor Pat Quinn’s budget address for FY2014 was officially postponed through action by the Governor on the same day it was originally required by law to be delivered. Although the later…
