This article about Cook County President Toni Preckwinkle’s proposed FY2011 budget, which makes major cuts and restructures debt to fill a nearly $500 million budget gap, mentions that the Civic Federation supports the proposed reforms.
This post on the Clout Street blog is about Cook County’s proposed FY2011 budget plans, which include major personnel cuts and debt restructuring to reduce a nearly $500 million budget gap. The Civic Federation says the budget proposal reflects a new era for County government as it tries to gain control over its finances.
In this blog entry, Greg Hinz discusses Cook County President Toni Preckwinkle’s proposed FY2011 County budget, which calls for significant personnel reductions to help reduce a large budget gap. The Civic Federation says the proposed budget includes major structural reforms and matches revenue with expenses.
This news segment explores the effect that the proposed increase in State of Illinois income taxes may have on individuals and businesses. Civic Federation President Laurence Msall says the State’s plans will not make a dent in its deficit and that if the State does not fix its structural deficit, its credit ratings could be lowered.
This article discusses efforts by legislators in Springfield to garner support for an increase in the State of Illinois’ income taxes. The Civic Federation says that if the State does not make major budget cuts between now and FY2015 when the tax increase expires, the State could find itself in a similar fiscally precarious position to where it is now.
Civic Federation President Laurence Msall was a guest on Milt Rosenberg’s “Extension 720” program with the Better Government Association’s Andy Shaw. Mr. Msall discussed the City of Chicago’s finances and other topics.
This editorial discusses the effect that an increase to the State of Illinois’ taxes may have on businesses. The Civic Federation says that if the State goes through its plan to borrow money to pay into its pension systems and pay off overdue bills in addition to imposing the tax increase, the State could increase its debt by one-third.
In this news segment about the State of Illinois’ plans to raise revenue through a tax increase, Civic Federation President Laurence Msall says that raising taxes without making budget cuts does not fix the State’s fiscal problems. Mr. Msall adds that the State could see its structural deficit grow in several years.
This article discusses concerns in the bond market that the State of Illinois’ recent tax increase does not do enough to correct the State’s precarious finances. The Civic Federation says the bond market is especially concerned with Illinois’ debt load.
This editorial about the recent State of Illinois income tax increase, which includes an annual cap on spending, mentions a Civic Federation suggestion that the State should spend less than the cap and only up to available revenues.
