Press Detail

DEAL IN FOCUS: Illinois Readies $1B of GO Certificates

Posted on June 25, 2009

The Bond Buyer

This article reviews an Illinois plan to take bids on $1 billion in general obligation certificates to help with cash-flow pressures in the face of the state’s $12 billion deficit and details The Civic Federation and IIFS’ analysis of Governor Quinn’s FY2010 budget proposal. The article discusses how the Federation is unable to support the budget as proposed due to insufficient spending cuts and an income tax increase that does not do enough to reduce the state’s existing liabilities.