In order to pay income tax refunds owed to taxpayers, the State of Illinois sets aside a percentage of income tax receipts received throughout the year and deposits them into a special fund. Different percentages apply to individuals and…
Governor Pat Quinn’s proposed FY2012 budget for the State of Illinois features additional borrowing and an overall increase in spending, despite steep spending reductions in the area of human services. The…
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 actionable recommendations…
The State of Illinois is anticipating a large increase in revenues from income tax rate increases approved in January and additional resources from borrowing to make its pension payment for the second year in a row. Even so, the Governor…
In discussions of the State of Illinois’ budget, no issue is more contentious—or more confusing—than recent spending trends. Simply stated, is Illinois spending more or less than it was two years ago?…
The Institute for Illinois’ Fiscal Sustainability at the Civic Federation recently described how some State of Illinois pension bond proceeds…
In addition to the tax increase and spending limits bill approved in the last hours of the 96th Illinois General Assembly,…
In the last hours of the 96th Illinois General Assembly, on January 11, 2011, the legislature took significant action on the State’s budget by passing a bill to increase personal income tax rates from 3% to 5% and corporate income tax…
On January 13, 2011, the Civic Federation sent this letter to Governor Quinn urging him to sign Senate Bill 3778. Click here to read a Civic…
