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…
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…
This editorial discusses a lawsuit filed Tuesday against changes to the City of Chicago’s Municipal and Labor pension funds that are scheduled to go into effect January 1. It cites the Civic Federation’s most recent…
For anyone who wants to understand the pension crisis facing the State of Illinois, a recent report for the State’s largest pension fund would be a good place to start. The…
This article examines the possible bond sale and credit rating implications of a November 21 ruling in Sangamon County Circuit Court…
Shortly after a Sangamon County Circuit Court Judge ruled that the pension reform law passed in Illinois almost a year ago violated the State constitution, Attorney General Lisa Madigan…
This article follows the passage of Chicago’s FY2015 budget by a 46-4 City Council vote. The Civic Federation supported the budget in its November 3 analysis…
This editorial discusses financial improvements made by the Chicago Transit Authority in the past few years that have led to a more fiscally stable agency. It cites the Civic Federation’s…
Report applauds level of public input in planning, warns of declining pension health In a report released today, the Civic Federation supports the $187.4 million budget proposed by the Forest Preserve District of Cook County. The…
Proposal reflects past work to secure pensions, modernize labor practices In an analysis released today, the Civic Federation supports the Chicago Transit Authority’s (CTA) proposed FY2015 operating budget of nearly $1.4 billion. The…
