The Illinois Income Tax: A Significant Source of Revenue for Local Governments
Under Illinois law, the State is required to share a certain portion of state income tax receipts with municipal and county governments…
Under Illinois law, the State is required to share a certain portion of state income tax receipts with municipal and county governments…
This article discusses the relationship between property taxes, politics and Chicago’s drastic unfunded pension liabilities. Governor Quinn vowed to veto an early version of a pension reform bill for two of Chicago’s pension funds that…
UPDATE: Illinois General Assembly Passes FY2015 Budget On May 30, 2014, a day before the end of the Illinois General Assembly’s regular spring session, the Senate passed the FY2015 budget previously approved by the House. As discussed…
This article covers the analysis of Governor Quinn’s FY2015 Recommended Budget released today by the Institute for Illinois’ Fiscal Sustainability at the Civic…
Plan Uses Revenue from Increased Income Tax Rates on New Homeowners’ Grant (CHICAGO) – In a new report released today, the Civic Federation’s Institute for Illinois’ Fiscal Sustainability opposes Governor Quinn’s recommended budget for…
The Civic Federation opposes Governor Pat Quinn’s recommended budget for FY2015 because it uses revenue from extending the 2011 temporary income tax increase for new spending. The State’s fiscal crisis demands that any increased revenue be…
As part of the FY2015 budget recommendation for the State of Illinois, Governor Pat Quinn provided two separate five-year projections for both “…
The Civic Federation joined with the Federal Reserve Bank of Chicago on April 23, 2014 to co-host a conference on ways that municipalities in Illinois can avoid or resolve fiscal…
This article discusses Governor Quinn’s recent indication that he would consider increasing the share of State income taxes distributed to local governments if the 2011 income tax rates were made permanent. The Civic Federation recommended…
On April 8, 2014, the Illinois House of Representatives and Senate approved Senate Bill 1922,…