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State of Illinois

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With Revenue Projection Up, Illinois Still Faces Daunting Budget Challenges

Illinois has lost less tax revenue than expected this year due to the COVID-19 pandemic, but the State still faces a significant budget gap, according to the latest official projection. The Governor’s annual…

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Civic Federation Releases Issue Brief on the Graduated Income Tax Proposal

Earlier in 2020 the Civic Federation released a series of three…

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The Graduated Income Tax Proposal: An Issue Brief

Click here to read the full issue brief.Click here…

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Budgeting in the Time of Coronavirus: Uncertainty and Surprises

The State of Illinois’ FY2020 fourth quarter revenue report contained a…

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The FY2021 Capital Budget Enacted by the General Assembly

The General Assembly enacted an approximately $49.2 billion capital budget on May 24, 2020.[1] Spending proposed in the capital budget includes funding from the State, grants from the federal…

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CARES Act Distribution and its Discontents

As state and local governments…

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States Beg, Borrow and Cut to Cope with Pandemic-Wracked Finances

The COVID-19 pandemic has had a devastating impact on state budgets, with tax revenue shortfalls estimated to total about $200 billion for fiscal years 2020 and 2021 compared with initial projections.…

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CARES Act Funds to Reach Smaller Illinois Counties and Municipalities

Since the federal government provided $139 billion of coronavirus relief funds to states and large cities and counties in April,…

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Update on Illinois Short-Term Debt

Since the Civic Federation published a blog on short-term debt in Illinois on May…

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Illinois FY2021 Budget Relies on Federal Loans and Backlog Borrowing

When Illinois lawmakers met in Springfield to pass a budget for the upcoming fiscal year, the main issue they confronted was the tax…