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…
This article discusses Governor Bruce Rauner’s call for a two-year freeze on the property taxes that fund local governments in Illinois. The Civic Federation warned that many local governments in Illinois are facing severe financial crises…
The State of Illinois projected a major loss of income tax revenues in FY2015 due to the reduced rates for individuals and corporations that took effect on January 1, 2015. However, corporate income taxes have taken a steeper decline than…
This article discusses Illinois’ partial income tax rollback that took effect January 1 and compares Illinois’ new tax rates to…
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…
This Marketplace Morning Report discusses the expiration of Illinois' temporary income tax increase on January 1, 2015. As discussed here, the reduction…
The following posts were among the most highly read on the Institute for Illinois’ Fiscal Sustainability’s blog in 2014 and represent the most closely followed Illinois fiscal issues of the year: State pension reform and the State budget…
The Cook County Clerk’s Office annually releases a tax rate report that provides the tax rates for various taxing agencies within Cook County. It is important for property taxpayers to have an accurate picture of which governments receive…
This article follows the passage of Chicago’s FY2015 budget by a 46-4 City Council vote. The Civic Federation supported the budget in its November 3 analysis…
