The Civic Federation commends the Cook County Board for voting 12-5 to roll back half of last year’s one percentage point sales tax hike and for overriding President Todd Stroger’s veto. The Federation considers this a victory for overburdened County taxpayers and for the County businesses that have suffered as a result of the tax. The Civic Federation has long opposed the unnecessary sales tax increase and has repeatedly called for its repeal, most recently in our analysis of…
For anyone who missed a last ride on the tilt-a-whirl when Kiddieland closed last month, a quick review of our state’s fiscal situation can provide a similar type of stomach-churning, gravity-defying—though rather less pleasurable—experience. As Illinoisans endure the second year of a historic recession, Illinois government has no budget, no plan, a half-year’s worth of unpaid bills and sky-high piles of pension debt. Budget negotiations in Springfield this year set new lows for fiscal…
This news segment discusses the effect that Illinois’ troubled economy may have on the gubernatorial election in 2010. Civic Federation President Laurence Msall points out that Illinois’ lack of a budget tied to available revenue will make the future budget cuts and revenue hikes necessary to balance the State budget much larger.
This news segment is about the Chicago Transit Authority’s substation in the Chicago Block 37 transit and retail project. Civic Federation President Laurence Msall is interviewed saying that the project, while a reasonable one at the time, does not now fit with the CTA’s other capital and construction needs.
The Civic Federation supports the FY2010 Forest Preserve District of Cook County budget of $198.2 million because the District will reduce its property tax levy by $1.1 million and use a portion of its budget reserve funds, rather than increase taxes, to balance its budget. However, the Civic Federation warns that the Forest Preserve District faces fiscal pressures due to rising personnel costs and should transfer law enforcement duties to the Cook County Sheriff and swimming pools to local…
(CHICAGO) The Federation supports the Forest Preserve District of Cook County proposed FY2010 budget of $198.2 million. The District plans to reduce its property tax levy and the burden it imposes on property taxpayers by $1.1 million. The full budget analysis will be made available to the public today at www.civicfed.org. The District will draw down $9.4 million from the budgetary reserves it prudently built up during better economic times to close its deficit and balance the budget. The Civic…
Tax revenues that states depend on to fund operations continue to decrease, dropping at least $119.7 billion nationwide in the most recent fiscal quarter. A study released by the Nelson A. Rockefeller Institute of Government on November 23, 2009 also shows that Illinois continues to be one of the hardest hit by revenue losses during the current recession. Illinois was one of only ten states that showed double-digit declines in all three major revenue categories, reporting an 11.7% loss in…
Taxpayers should get what they pay for, and pay for what they get—that is the core notion behind intergenerational equity in government. When governments live within their means, balancing revenues and expenditures without hoarding excess cash or borrowing from the future, they achieve intergenerational equity among taxpayers and others who pay for and receive government services. If today’s taxpayers pay less than the full cost of the services they use today, a future taxpayer will pay…
This article about a report on the States in the worst fiscal condition by the Pew Center on the States quotes the Civic Federation in its profile of Illinois’ budget problems. The Federation noted that Illinois’ budget hole is too large to be filled with just a tax increase.
This news segment examines Governor Quinn’s deal with the Chicago Transit Authority that will avert a fare increase through increased borrowing. Civic Federation President Laurence Msall says the deal may be a bad one in the long run, increasing the possibility of greater fare increases and service cuts down the road.
