The Civic Federation's legislative priorities for 2010 include public pension reform, requiring state government to develop and implement performance measurement and a capital improvement plan, the dissolving of the Illinois International Port District, creating a new governing board for the Cook County Forest Preserve District, reinstating means-tested transit discounts for seniors, requiring…
Facing a multi-billion dollar mountain of unpaid bills and declining revenues, Governor Pat Quinn has proposed a new short-term borrowing plan for the State of Illinois that has encountered opposition from the Comptroller’s Office. As previously reported in this blog, the Governor in late October announced his intention to borrow $900 million to help catch up on payments to state vendors and…
For anyone who missed a last ride on the tilt-a-whirl when Kiddieland closed last month, a quick review of our state’s fiscal situation can provide a similar type of stomach-churning, gravity-defying—though rather less pleasurable—experience. As Illinoisans endure the second year of a historic recession, Illinois government has no budget, no plan, a half-year’s worth of unpaid bills and sky-high…
This news segment discusses the effect that Illinois’ troubled economy may have on the gubernatorial election in 2010. Civic Federation President Laurence Msall points out that Illinois’ lack of a budget tied to available revenue will make the future budget cuts and revenue hikes necessary to balance the State budget much larger.
Tax revenues that states depend on to fund operations continue to decrease, dropping at least $119.7 billion nationwide in the most recent fiscal quarter. A study released by the Nelson A. Rockefeller Institute of Government on November 23, 2009 also shows that Illinois continues to be one of the hardest hit by revenue losses during the current recession. Illinois was one of only ten states that…
This article about a report on the States in the worst fiscal condition by the Pew Center on the States quotes the Civic Federation in its profile of Illinois’ budget problems. The Federation noted that Illinois’ budget hole is too large to be filled with just a tax increase.
The Civic Federation has enormous concerns about the fiscal risks associated with Governor Quinn’s “deal” to avoid CTA fare increases. Under the proposal, the Regional Transportation Authority will issue General Obligation bonds worth $83 million in both 2010 and 2011 and transfer the funds to the CTA for capital projects. The CTA will then shift a similar amount of its existing capital funds to…
The State of Illinois’ fiscal crisis has had a major impact on the State’s employee health insurance plan, delaying payments on employee medical bills paid by the State for roughly seven months and causing the State to delay paying premiums to managed care companies for three and a half months. It is taking an average of 209 days for the State’s self-insured health plan to pay its bills,…
The State of Illinois’ personal income tax revenue for FY2010 is now expected to be $850 million lower than projected when the budget was approved in July 2009, according to David Vaught, the newly appointed Director of the Government’s Office of Management and Budget. The latest estimate of approximately $9.4 billion is down roughly 8% from the $10.2 billion projection used to develop the budget…
The surprise expansion of gambling to all corners of Illinois in the form of legalized video poker that was enacted by the General Assembly has not been well received by many residents or local governments. A recent poll conducted by the Chicago Tribune showed that nearly 60% of Illinois residents opposed legalizing video poker and many counties and cities are taking advantage of a provision in…
