Based on available market data, the State of Illinois paid approximately $40 million more for the $480 million of new bonds it sold in January than it would have before its bond ratings were downgraded at the end of last year. As…
2016 Civic Federation Legislative Priorities The Civic Federation's legislative priorities for 2016 include …
The Civic Federation has long supported legislation aimed at improving the efficiency and effectiveness of government operations in Illinois by consolidating or abolishing redundant and/or anachronistic local governments.…
A new report by Governor Bruce Rauner’s administration projects that the State of Illinois’ backlog of unpaid bills could grow to $25.0 billion in FY2019 from $4.4 billion in FY2015 based on current tax and spending policies. The…
After a 20-month hiatus from the municipal bond market, the State of Illinois recently announced it would sell bonds later this month in order to continue paying for ongoing capital projects in need of additional funding. According to…
The following were among the most highly read posts provided by the Institute for Illinois’ Fiscal Sustainability in 2015. Understandably, they represent the most closely followed Illinois fiscal issue of the year: the ongoing state budget…
As Illinois enters the sixth month of fiscal year 2016 without a budget, the backlog of unpaid group health insurance bills has reached more than $2 billion and is likely to grow…
The Civic Federation supports the Chicago Park District’s proposed FY2016 operating budget of $458.1 million that reduces the District’s reliance on one-time revenue sources and accommodates increased employer pension contributions for the…
In the absence of a budget for FY2016, the State of Illinois is moving forward with a plan to issue debt through the Illinois Finance Authority to fund some essential operating expenses. However, the…
The State of Illinois’ contributions to its five pension funds will rise by $288.8 million to $7.8 billion in the next budget year, according to preliminary estimates by the retirement systems. The proposed 3.8% increase will add to the…
