The State of Illinois is not the only cash-strapped state that shied away from major tax increases to improve its financial condition in FY2011. According to Stateline.org, most states avoided raising significant revenue and instead patched together FY2011 budgets by finding a few new items to tax, curtailing spending and relying on federal stimulus dollars. So far only Kansas and Arizona have…
This editorial opposes the policy decisions that have led to the dire state of Illinois’ pension system. The Civic Federation says the threat that Illinois’ pensions will run out of money is very real and that Illinois’ police and firefighter pensions are among the worst-funded and most vulnerable in the State.
The Civic Federation is quoted in this article that details the challenges facing Illinois government agencies in their efforts to reduce expenditures to help the State balance its budget.
In this news segment about the Illinois legislature’s passage of an unbalanced budget that would leave the State further behind on its paying its bills, Civic Federation President Laurence Msall calls on Governor Quinn to veto the budget in favor of crafting one that is balanced.
Illinois and many other states drafted budget plans for FY2011 based on the assumption that Congress would extend the expiration date for enhanced federal Medicaid funding by six months—from December 31, 2010 to June 30, 2011. Now that assumption is looking increasingly shaky, adding to concerns about mounting state budget deficits. Just before the Memorial Day weekend, the U.S. House of…
This article examines Illinois’ pension-funding crisis and the legislative reforms that attempt to stabilize the State pension systems. The Civic Federation points out that the reforms do not do enough to address immediate funding problems and to prevent bankruptcy, the State should increase employee contribution requirements.
In a discussion on the Fox Chicago Sunday news program about the Illinois legislature’s passage of an emergency budget, Civic Federation President Laurence Msall explains that the budget does not make sufficient cuts nor does it address the State’s increasing number of unpaid bills.
Before adjourning for a second time this session on May 28, 2010, the Illinois General Assembly sent a series of budget bills for FY2011 to the Governor. Both houses passed $26.0 billion in appropriations, emergency budget powers for the Governor, several one-time revenue sources and some borrowing for operations. The State’s budget for FY2011, which begins in less than 30 days on July 1, 2010,…
As the General Assembly nears the final days of this year’s regular session with no FY2011 budget in sight, a group of lawmakers is attempting to advance the negotiations by proposing a $1.3 billion package of spending reductions and savings. The proposal by ten Democrats on May 24, 2010 represented an uncommon effort by Illinois lawmakers to suggest significant and broad-based reductions in the…
In this editorial about the various Illinois gubernatorial candidates’ plans to balance the State’s budget, the Pantagraph encourages candidates for state office to read the Civic Federation’s “Fiscal Rehabiliation Plan for the State of Illinois.”
