FY2016

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Civic Federation – Federal Reserve Bank of Chicago Conference Checks in on Medicaid and the Affordable Care Act

The Civic Federation co-hosted a conference with the Federal Reserve Bank of Chicago on April 4, 2016 entitled, “Medicaid Expansion and the Affordable Care Act: A Fiscal Checkup.” Experts, practitioners and academics from around the…

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Illinois Budget Impasse Would Be Solved In No Time If These Folks Were In Charge

This article discusses a recent state budget forum featuring a panel of eight Illinois lawmakers providing their respective insights on Illinois’ current financial crisis. Civic Federation President Laurence Msall co-moderated the…

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Illinois Has No Budget, So Where Do State Tax Dollars Go, Anyway?

This segment examines how the State of Illinois has been spending billions of dollars in revenue even in the absence of an FY2016 budget. Laurence Msall, President of the Civic Federation, notes that the impasse creates tremendous burdens…

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Interest Penalties on Illinois’ Overdue Health Insurance Bills Keep Rising

Due to its growing backlog of overdue group health insurance bills, the State of Illinois is expected to pay a total of at least $454 million in interest penalties in the current and upcoming budget years, according to a…

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Late payments cost state over $900 million the last six years

This article examines the nearly billion dollars of interest the State of Illinois has paid in penalties over the last several years because of its continually late bill payments. Civic Federation President Laurence Msall notes that these…

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Chicago Pension Reforms Struck Down by Illinois Supreme Court

On March 24, 2016 the Illinois Supreme Court filed its opinion affirming the Cook County Circuit Court’s…

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Illinois’ State Budget Deficits Overshadow Continued Economic Growth

As the State of Illinois’ budget impasse continues to drag on, it is commonly overlooked that the underlying economy and tax base in the State continue to grow. In FY2017 the State of Illinois is projected to have an additional $631…

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Court Ruling Leaves Chicago Empty-Handed on Pensions

This article discusses the recent Illinois Supreme Court decision to uphold a Circuit Court ruling that reforms for two of Chicago’s pension funds are unconstitutional. The Civic Federation says the ruling limits financial…

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Ill. Supreme Court overturns city pension reforms

This article reports on the Illinois Supreme Court ruling overturning reforms for two of the City’s pension funds and the potential consequences for Chicago taxpayers. Laurence Msall, President of the Civic Federation, notes that the short…

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City Hall Borrows $220 Million For Pensions

This segment examines the City of Chicago’s short-term borrowing to fund police and fire pensions. Civic Federation President Laurence Msall indicates that borrowing for pension payments is not an ideal situation.