This article discusses a warning by credit rating agency S&P that the City of Chicago could face further credit rating downgrades this year without the enactment of substantial pension reform legislation. The Civic Federation is cited…
This article looks at both mayoral candidates’ proposals for addressing the City of Chicago’s financial challenges, which include severely underfunded pension funds, a high debt level and Chicago Public Schools’ $1 billion deficit. The…
This article covers the Illinois Supreme Court’s consideration on March 11 of oral arguments for the State’s pension reform law.…
Governor Bruce Rauner’s recommended budget for fiscal year 2016 includes a new plan for reducing the State…
This editorial discusses the significant financial challenges the City of Chicago is facing related to unfunded pension liabilities and debt levels. The editorial cites Civic Federation research and discusses recent reforms to the City’s…
Two lawsuits seeking to overturn a pension reform law for the Chicago Municipal and Laborers’ funds have been put on hold pending…
In his first budget proposal for the State of Illinois, Governor Bruce Rauner recommended more than $4 billion in spending cuts and $2.2 billion in estimated pension savings to close a projected budget gap of over $6 billion in fiscal…
The Civic Federation’s previous blog examined the long-term debt of eight major local governments in northeastern Illinois.This…
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…
