The Civic Federation supports the proposed FY2012 Chicago Transit Authority budget of $1.2 billion because it will set the agency on a more sustainable path. The spending plan will also avoid fare hikes or service cuts if labor unions and…
The Civic Federation supports the FY2012 proposed Chicago Transit Authority budget of approximately $1.2 billion because it ends the past practice of using capital funds to close operating gaps and maintains current fare and service levels…
Entering the third year of the Illinois Jobs Now! capital program, the State’s capital revenue sources are still well below the anticipated debt coverage needed to pay for the more than $16 billion in bond funded projects already approved…
Major Tax Increase, Cuts to Appropriations Did Not Fix State’s Finances (CHICAGO) The Institute for Illinois’ Fiscal Sustainability at the Civic Federation released its analysis of the enacted FY2012 State budget today. The report found…
As the State of Illinois enters the third year of its Illinois Jobs Now! capital program, the Governor and General Assembly enacted a capital budget for FY2012…
The Illinois General Assembly reconvened on June 22, 2011 for an extra day of the spring session to sort out several issues that were not addressed three weeks ago when the legislature adjourned after approving a $33.2 billion budget. Both…
A critical fiscal process for state and local governments is the planning and funding of capital projects. The literature on best practices for capital budgeting is not as robust as for operating budgets and there is significant variety in…
The State of Illinois’ largest area of capital investment, transportation projects, received a funding boost this week when the federal government announced additional grants to support high-speed rail projects in Illinois. The U.S…
The State of Illinois is anticipating a large increase in revenues from income tax rate increases approved in January and additional resources from borrowing to make its pension payment for the second year in a row. Even so, the Governor…
Congress appears to have sealed the fate of the federal Build America Bond (BAB) subsidy by not including renewal of the program in the package of unemployment benefits and…
