IIFS Blog Archive: July 2010
07.29.10
Civic Federation’s Illinois Rehab Plan Wins National Award
On Tuesday in New York City, the Governmental Research Association recognized the Civic Federation’s Institute for Illinois’ Fiscal Sustainability with its Most Distinguished Research Award for the Institute’s “A Fiscal Rehabilitation Plan for the State of Illinois....
07.22.10
Sales Tax Holiday Could Prove Complicated
Despite a $2 billion drop in the State’s annual revenues in FY2010 , the General Assembly passed Governor Pat Quinn's proposal to provide a back-to-school sales tax holiday for Illinois consumers as part of the FY2011 budget.
07.14.10
Unbalanced State Budget Triggered Downgrades
Almost immediately after the Illinois General Assembly approved an unbalanced budget for FY2011, two of the three major rating agencies downgraded the state’s debt ratings.
07.01.10
Governor Announces Cuts, But FY2011 Budget Remains Unbalanced
On July 1, 2010—the first day of the State of Illinois’ FY2011 fiscal year—Governor Pat Quinn said that his budget for the new year will contain major spending cuts. However, most of the reductions have yet to be determined and the FY2011 budget continues to be unbalanced, with an...