This editorial reviews positions of the four Illinois Primary GOP candidates for Governor on three subjects: leadership, revenue and business. Regarding the pending expiration of the temporary income tax increase, the editorial cited the…
Next week Governor Pat Quinn will give his sixth budget address since taking office in 2009. The budget is expected to be one of the most difficult of his tenure considering that the State is currently expected to have approximately $5.4…
Unlike the federal government, the State of Illinois exempts all retirement income from the individual income tax. Of the 41 states that impose an income tax, Illinois is one of only three that exempt all pension income and one of 27 that…
This article looks at findings of the Civic Federation’s State of Illinois FY2015 Budget Roadmap released by the Institute for Illinois’ Fiscal Sustainability on March 3. The…
In a report released today, the Civic Federation’s Institute for Illinois’ Fiscal Sustainability proposes a comprehensive plan for achieving long-term fiscal sustainability for the State of Illinois. The five-year plan would fully pay down…
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. The report reviews Governor…
The Illinois House of Representatives has approved a revenue projection for the coming fiscal year that includes a $2.2 billion loss in operating resources for FY2015, after a holding series of committee meetings to deliberate varying…
This week, Chicago Public Schools released its FY2013 Comprehensive Annual Financial Report for July 1, 2012 to June 30, 2013. In it, the District reports a year-end FY2013 deficit of $119 million that was closed using fund balance. This…
It is widely known that the State of Illinois faces a dramatic reduction in general operating revenue starting on January 1, 2015, when…
As noted in many media reports and in the Civic Federation’s analysis of the City of Chicago’s FY2014 budget, the City balanced its budget in part with a number of targeted revenue enhancements. One of these revenue enhancements was a…
