Issues: Capital Budget
The Civic Federation supports Governor Pat Quinn’s $57.4 billion FY2013 recommended operating budget, because it acknowledges the depth of the State’s financial problems and would put Illinois finances on the road to recovery with major structural reforms to the State’s Medicaid program and pension systems.
The Civic Federation's legislative priorities for 2012 include public pension reform, requiring the State of Illinois to develop and implement a capital improvement plan, dissolving the Illinois International Port District, creating a new governing board for the Cook County Forest Preserve District, requiring all counties to hold budget hearings and large counties to produce timely annual audits, enacting tax increment financing reporting reform, requiring school financial management accountability reforms and authorizing state and local government entities to establish trust funds for the advance funding of retiree health care.
The Civic Federation opposes Governor Pat Quinn’s $52.7 billion FY2012 recommended operating budget for the State of Illinois because it is unbalanced by approximately $2.4 billion and is based on the premise that long-term borrowing is the right tool to dig the State out from under its massive backlog of unpaid bills and other obligations. To the contrary, the Governor’s proposed borrowing is likely to make the State’s financial condition worse over time.
There is no recent Commentary in this category.
State bond funding for infrastructure projects in Illinois is running out after a $500 million issuance was pulled from...
A national report on state budget issues released this week details the ongoing operating budget problems in Illinois...
Although discussion about the State of Illinois’ annual budget primarily focuses on the operating expenditures...
Three weeks after Governor Pat Quinn delivered his FY2013 budget address, details on the recommended FY2013 capital...