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Our Research

The Civic Federation engages in robust, independent, and objective fiscal analysis, recommendations, and oversight of government at all levels. Our work is driven by the belief that government must operate in ways that are Stable, Sustainable, and Resilient.

Achieving in a way that fosters legitimacy and inspires public confidence requires a foundation built on systems that are Transparent, Accessible, Accountable, and Effective.

Our work focuses on two core areas of expertise, fiscal policy and governance, and we promote policies, practices, processes, and outcomes that not only address today’s challenges but also build long-term trust in government.

June 2, 2026

Understanding Municipal Debt: A Case Study of the Chicago Public Schools

This report serves as a basic primer on how municipal debt works and how it is meant to be used, using the debt load of one local government as a case study: the Chicago Public School District. CPS’ debt challenges are not the result of any single decision or administration, but rather decades of structurally imbalanced budgets and recurring fiscal pressures. Improving the District’s long-term financial outlook will require reducing reliance on backloaded debt structures, pursuing sustainable solutions to recurring budget deficits, rebuilding financial reserves, and improving its credit rating.

CPS Debt Cover Page

Featured Reports & Analysis

Taxes and Fees
May 28, 2026

Gas Tax Holidays: Savings at What Cost?

This report examines recent fuel price increases, the implications of potential motor fuel tax holidays for Illinois revenues, and how temporary reductions in motor fuel taxes could affect transportation and transit funding statewide. Because the policy discussion is evolving rapidly, policymakers should carefully evaluate both the transportation funding implications and the likely consumer impacts before advancing any proposals currently being discussed in Springfield.
Taxes and Fees
May 18, 2026

What Chicagoans Pay: A Guide to Consumer Taxes in 2026

The 2026 edition of this annual report lists and describes selected consumer taxes within the City of Chicago effective as of January 1, 2026. While not exhaustive, this report is intended to be a comprehensive compilation of taxes paid by consumers within the City of Chicago at all levels of government: federal, state, and local. 
State of Illinois Budget
April 28, 2026

How Illinois' FY2027 Proposed Budget Addresses Long-term Fiscal Sustainability

Governor Pritzker’s FY2027 State of Illinois (Illinois or the ‘State’) budget proposal balances the books amidst a $2.2 billion budget gap, offering a “maintenance” budget that yields a modest general funds surplus of $24 million. This report examines how Governor Pritzker’s FY2027 State of Illinois budget proposal advances the State’s long-term goals for financial stability. This question is particularly important given Illinois’ tepid economic growth and persistent structural challenges, including an underlying mismatch between revenues and expenditures, limited fiscal resiliency, growing pension obligations, and a fiscal framework that does not fully support sustained and inclusive economic growth.

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Keep up with the Civic Federation's latest research and recommendations on fiscal policy and other key issues facing our state and local governments.

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