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Rauner plan could cost suburbs 25% of reserves

Posted on March 05, 2015

Daily Herald

This article analyzes the health of the financial reserves of 90 northeastern Illinois suburbs in response to Governor Rauner’s FY2016 budget proposal that included reducing municipalities’ shares of State Income Tax revenues. The Civic Federation said it would be very difficult for some local governments to absorb the revenue reduction and recommends the General Assembly and Governor work to ensure that the effort to balance the State budget won’t result in greater fiscal crises for local governments.