Crain's Chicago Business
This article looks at findings of the Civic Federation’s State of Illinois FY2015 Budget Roadmap released by the Institute for Illinois’ Fiscal Sustainability on March 3. The State’s General Funds revenues are projected to decline by $3.9 billion between FY2014 and FY2016 due to the scheduled partial rollback of the income tax increase. The Federation’s report presents a plan to avoid the pending revenue cliff by gradually rolling back tax rates.