(CHICAGO) In a new report released today, the Civic Federation’s Institute for Illinois’ Fiscal Sustainability supports Governor Quinn’s proposed budget for FY2013. The $57.4 billion budget proposal acknowledges the depth of the State’s financial problems and would put Illinois finances on the road to recovery with major structural reforms to the State’s Medicaid program and pension systems. This…
The Civic Federation supports Governor Pat Quinn’s $57.4 billion FY2013 recommended operating budget, because it acknowledges the depth of the State’s financial problems and would put Illinois finances on the road to recovery with major structural reforms to the State’s Medicaid program and pension systems. The Governor’s proposed FY2013 budget makes several important steps toward Illinois’…
A key component of Governor Pat Quinn’s proposal to close the State of Illinois’ $2.7 billion Medicaid funding gap in FY2013 is an increase in the State’s cigarette tax. The Governor projects that a $1 a pack increase in the cigarette tax, to $1.98, would bring $337.5 million in new revenues to the State to pay for Medicaid expenses. Medicaid spending is reimbursed by the federal government at a…
The Teachers’ Retirement System of the State of Illinois (TRS) has concluded that it can no longer rely on the State to follow the law for funding its five retirement systems and that sweeping changes are needed to sustain the pension funds. On March 30, 2012, the TRS Board of Trustees approved a resolution stating that “the fiscal situation of the State has deteriorated to the point that the…
The Illinois House has approved a spending plan for FY2013 that would cut the State of Illinois’ expenditures from the level proposed by Governor Pat Quinn and use an additional budget surplus to reduce the State’s backlog of unpaid bills. House Resolution 706, approved on March 29, 2012, calls for spending $32.9 billion from general operating funds in FY2013. That spending level is $858.6…
This Tribune editorial urged advocacy groups to join those calling for reforms to the State of Illinois’ Medicaid program and pension systems because rising costs in these areas are increasingly squeezing out funding for all other State programs. It cited the Civic Federation’s projection that the State’s backlog of unpaid bills could rise from the current $8 billion to nearly $35 billion by…
UPDATE: On May 24, 2012 the Illinois General Assembly approved legislation to permit Cook County’s public health system to obtain federal funding for medical services for low-income adults under the Medicaid program. The plan must still be approved by the federal government. House Bill 5007 passed the House by a vote of 62 to 55 and the Senate by a vote of 35 to 22. The Cook County plan required…
Three weeks after Governor Pat Quinn delivered his FY2013 budget address, details on the recommended FY2013 capital budget are still not widely available. In most years, the Governor is required under the State Budget Act to deliver the operating and capital budgets for the coming year no later than the third Wednesday in February. This year the deadline was extended to the fourth Wednesday…
In the last week, both houses of the Illinois General Assembly approved a General Funds revenue projection for FY2013 that is lower than the amounts included in the Governor’s recommended budget. In two parallel resolutions, House Resolution 707 and Senate Resolution 586, legislators agreed that the State’s FY2013 budget should be based on an expectation of $33.7 billion in General Funds revenues…
(The full text of this article is available only to the publication's subscribers.) This overview of Illinois’ fiscal challenges focuses on rising costs in the State’s Medicaid program and pension systems. The article cites the Civic Federation’s projection that the State could accumulate nearly $35 billion in unpaid bills by FY2017 without dramatic policy changes.
