(CHICAGO) The Civic Federation released today a comparative analysis of the cost of the $9.6 billion in bonds the State of Illinois issued between September 2009 and July 2010. The report estimated that Illinois government may pay as much…
This issue brief provides a comparative analysis of the cost of the $9.6 billion in bonds the State of Illinois issued between September 2009 and July 2010. The report estimates that Illinois government may pay as much as $551.3 million…
A recent report shows that nearly all the bond subsidies promised under the Build America Bond (BAB) program are being paid by the federal government to issuers applying for the credit without significant administrative delay. The BAB…
It’s no secret that the financially troubled State of Illinois owes billions of dollars in unpaid bills. What is not as widely known is that the State also owes $730 million in corporate income tax refunds, according to the Illinois…
Illinois Governor Pat Quinn recently announced his plans for $500 million in mass transit infrastructure improvements across the State. $…
Roughly a month ago, on July 1, 2010, Governor Pat Quinn announced that he planned to cut $1.1 billion from the $26.0 billion FY2011 State of Illinois budget previously approved by the General Assembly. At that time, the Governor did not…
Despite a $2 billion drop in the State’s annual revenues in FY2010 , the General Assembly passed Governor Pat…
Illinois’ increasing cost of borrowing is the focus of this article. The Civic Federation says businesses are reconsidering plans to invest in Illinois because of uncertainty over the State’s long-term tax policies and fiscal health.
Almost immediately after the Illinois General Assembly approved an unbalanced budget for FY2011, two of the three major rating agencies downgraded the state’s debt ratings. It…
This editorial is about the State of Illinois’ FY2011 enacted budget. It mentions the Civic Federation’s alternative budget recommendations as one of several possible solutions overlooked by legislators.
