May 31, 2016

WGN

WGN
May 31, 2016

This segment discusses the long-term damage being done to the State of Illinois as the State approaches one full year without a budget in place. Civic Federation President Laurence Msall discusses the consequences of the budget impasse and says Illinois is sending the wrong message to citizens and businesses by not having a budget.

May 23, 2016

Chicago Sun-Times

Chicago Sun-Times
May 23, 2016

This article reports on the City of Chicago’s recent agreement with the Laborers Pension Fund to save the fund from insolvency through a combination of union concessions and revenue from telephone tax increases. Laurence Msall, President of the Civic Federation, says that the new reforms could be the start of improvements for the City’s pension funds.

May 19, 2016 - 3:25pm


May 19, 2016

With the current year’s budget still incomplete, the State of Illinois is now facing the prospect of starting another year without a financial plan.

Due to a political dispute between Illinois’ Republican Governor and Democratic legislators who control the General Assembly, the State does not have a comprehensive budget for fiscal year 2016, which ends on June 30. Despite recent efforts by lawmakers, there are no clear signs of progress on a budget for FY2017, which begins on July 1.


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May 16, 2016

WGN

WGN
May 16, 2016

This segment discusses the State of Illinois’ almost year-long budget impasse and how the expiration of the 2011 temporary income tax hike in 2015 has affected the State’s finances. Civic Federation President Laurence Msall remarks that Illinois never had a plan for the expiration of the temporary income tax or how the State would handle the huge decrease in revenues.

May 11, 2016

WQAD 8

WQAD 8
May 11, 2016

This segment reports on the State of Illinois paying more than $900 million in penalties for late bill payments in the past six years, which is highlighted in the Civic Federation’s recent analysis of Governor Rauner’s FY2017 proposed budget. Laurence Msall, President of the Civic Federation, remarks that spending almost a billion dollars on penalties is basically fiscal mismanagement and notes that the money could have funded many other Illinois programs.

 

May 11, 2016

Chicago Tribune

Chicago Tribune
May 11, 2016

This article explains that the City of Chicago has yet to provide alternative reforms for two of its pension funds after an Illinois Supreme Court ruling overturned the City’s previous reform plan. Civic Federation President Laurence Msall says the Illinois Supreme Court leaves open the possibility of future benefit changes but has not provided firm direction on how the Illinois General Assembly or City of Chicago could accomplish them.

 

May 5, 2016

Peoria Journal Star

Peoria Journal Star
May 5, 2016

This editorial reports on findings included in the Civic Federation’s recent analysis of Governor Rauner’s FY2017 proposed budget and discusses the budget’s issues. The Editorial Board says the Federation’s analysis is correct in its conclusion that parts of the Governor’s proposed spending plan are imprudent and unrealistic.

May 5, 2016 - 3:27pm


May 5, 2016

The State of Illinois can add another complication to its already stressed financial condition, an $800.7 million shortfall in its capital spending plan caused by failure in several of the dedicated revenue sources enacted to fund debt service.

The State relies heavily on the sale of bonds to fund the capital budget. The original Illinois Jobs Now! capital program passed in 2010 included approximately $16.2 billion of bond-funded expenditures.[1]


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