This article reports on a proposal from local lawmakers that would use surplus TIF funds to close a portion of CPS’ budget deficit. Laurence Msall, President of the Civic Federation, commented on the need for a comprehensive plan to…
This article discusses the current $480 million CPS budget shortfall, impacts of the budget gap and proposed short-term solutions. President of the Civic Federation, Laurence Msall, remarked on the necessity of a long-term plan to help…
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…
This article reports on the signs indicating that the State of Illinois may not have a budget until later this calendar year. Civic Federation President, Laurence Msall, discusses the looming pressures to put an end to the budget impasse.
This article discusses that the city of Harvey, a south suburb of Chicago, is in serious financial trouble with millions of dollars unaccounted for. President of the Civic Federation, Laurence Msall, notes that the lack of records and…
This article discusses an upcoming Chicago City Council vote on $3 billion worth of bond issuances for 2016. Some Aldermen have called for more time in order for the new City Council independent budget expert to review all of the plans.…
This article covers Mayor Rahm Emanuel seeking approval from City Council for $3 billion in borrowing, the biggest in his tenure. President of the Civic Federation, Laurence Msall, asks whether the record borrowing is in the best interest…
This article reports on the City of Chicago seeking to borrow up to $3 billion dollars in 2016 to fund a mix of capital, water, sewer and airport projects. Several hundred million of the borrowing funds will go to refinancing existing city…
This article discusses the state of Illinois ending calendar year 2015—six months into FY2016—without a budget. With the current budget impasse, spending plans have driven up borrowing costs, the state’s credit rating has sunk and…
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…
