An Analysis of the State’s Fiscal Crisis and Actionable Recommendations for Governor Pat Quinn and the Illinois General Assembly Please visit the Illinois Fiscal Rehabilitation Plan web page for a comprehensive look at the report. This report describes the basis of the State of Illinois’ fiscal crisis and presents the Civic Federation’s plan for rehabilitating the State’s finances. The plan…
Proposes Comprehensive Package to Address State Budget Crisis Please visit the Illinois Fiscal Rehabilitation Plan web page for a comprehensive look at the report. CHICAGO – The Civic Federation, a 116 year-old government research organization, released today its plan to salvage the State of Illinois’ finances. “A Fiscal Rehabilitation Plan for the State of Illinois” calls for a comprehensive…
The State’s fiscal crisis is causing substantial difficulties for residents, state workers, state service providers and other governments. Budget cuts in early FY2010, which began July 1, led to reductions in state-funded services for some of Illinois’ lowest income citizens. Now, with the economy still mired in recession, the State is increasingly hard-pressed to pay its bills. Illinois’ backlog…
This article discusses the Institute for Illinois’ Fiscal Sustainability at the Civic Federation’s finding that the Illinois two-year budget deficit will reach at least $12.8 billion by the end of FY2010 as a result of the loss of tax revenue and structural deficits.
In this blog post, Crain’s Chicago Business columnist Greg Hinz examines the findings of an analysis conducted by the Civic Federation’s Institute for Illinois’ Fiscal Sustainability’s of the FY2010 enacted State of Illinois budget, focusing on the projected two-year budget deficit of $12.8 billion.
This article considers the possible privatization of the Illinois tollway system as a way of increasing funds for capital investment across the State. The Civic Federation is quoted saying that leasing an asset can bring in much-needed funds; however, without adequate public scrutiny, a deal could turn problematic.
This article examines the State of Illinois’ plan to sell $1 billion in Build America Bonds to raise funds for capital projects. The article mentions that Illinois will have a two-year deficit going into FY2011 of $12.8 billion as reported by the Institute for Illinois’ Fiscal Sustainability at the Civic Federation in its recent analysis of the State’s FY2010 enacted budget.
The State of Illinois has unveiled more details about its plan to enroll elderly and disabled Medicaid recipients in health maintenance organizations (HMOs) and has announced that the plan is expected to save taxpayers nearly $200 million over five years. The new details about the HMO plan came in a Request for Proposals (RFP) issued on Friday, February 5, 2010. The State’s Department of…
Although the Governor and General Assembly enacted laws to provide for ethics reform and campaign finance reform last year, much needed fiscal reform of the State’s budget has yet to make it to the top of the legislative agenda in Illinois. Despite facing a massive budget shortfall from FY2009 and the looming specter of failing revenues, last year the General Assembly enacted a budget for FY2010…
On February 7 the Chicago Transit Authority (CTA) will implement layoffs and service reductions intended to reduce its FY2010 operating costs by $95.6 million. The Authority, which faced a $300.9 million deficit when crafting its FY2010 operating budget, will lay off 1,100 employees and offer less frequent service on 119 bus routes and seven train lines. The Authority’s other deficit reduction…
