IIFS Blog Archive: November 2009
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...
While politicians, unions and other supporters of Howe Developmental Center fight to keep it open, a new report from the U.S. Justice Department has raised more questions about Howe’s viability.
The State of Illinois’ inadequate funding of its employee retirement systems has already contributed to downgrades in the State’s credit ratings and will continue to affect rating decisions for many years, according to a new report by Moody’s Investors Service.
Governor Pat Quinn plans to borrow an additional $900 million to keep the State of Illinois afloat, marking the third time since May of 2009 that the State has used short-term borrowing to offset revenue shortfalls.