The article covers the main points of Governor Rauner’s fiscal year 2016 budget recommendation, which includes significant program cuts and expanded pension reforms. The Civic Federation said the proposed budget is a starting point for…
The State of Illinois reduces its operating resources by more than 25% annually to provide individuals and businesses tax benefits through exemptions also known as tax expenditures. In FY2013, the most recent year that…
This article reviews the Institute for Illinois' Fiscal Sustainability at the Civic Federation’s FY2016 State Budget Roadmap, an annual report released prior to the…
In a report released today, the Civic Federation’s Institute for Illinois’ Fiscal Sustainability proposes a comprehensive five-year plan that responds to the dire reality of Illinois’ financial condition with painful, but necessary…
Prior to the release of the Governor’s annual budget recommendation, the Institute for Illinois’ Fiscal Sustainability at the Civic Federation releases an analysis of the State of Illinois’ fiscal condition and proposes a comprehensive…
A drop in Illinois’ income tax rates—and uncertainty about the implementation of pension changes—could cause the State’s backlog of unpaid bills to grow to $9.9 billion by the end of the 2016 budget year, according to a new forecast by…
On a preliminary trip to Springfield after winning the November election, Governor-elect Bruce Rauner held a press conference to draw attention to some of the gimmicks…
The State of Illinois will need to increase contributions to its pension funds by $682.0 million in the next budget year, according to preliminary amounts released by the State’s five retirement systems.Total pension contributions…
This article discuses an upcoming $550 million contribution to the City of Chicago’s police and fire pension funds. The City’s…
