This article discusses the City of Chicago taking additional time to determine how to prevent the Chicago Public Schools from ending the school year early due to financial issues. Laurence Msall, President of the Civic Federation, notes that it is a positive development that the District’s school year will remain intact but also warns that any additional funding that the City and District can pull together in the short-term will be unsustainable.
This article discusses what options the City of Chicago might have to aid the Chicago Public Schools and prevent the District from ending the school year early due to serious financial issues. Civic Federation President Laurence Msall urged the City to be cautious so that the money necessary to keep the District open does not come at the expense of further downgrades or instability for the City.
On Friday March 24, 2017 Illinois Governor Bruce Rauner vetoed Senate Bill 2437, legislation that was intended to increase city funding to help prevent the City of Chicago’s Municipal and Laborers’ pension funds from going insolvent within the next decade. The legislation had passed with large bipartisan majorities in the Illinois House and Senate. This was the City’s second attempt to improve the funding status of its Municipal and Laborers’ Pension Funds. The Illinois Supreme Court struck…
This article examines the causes and effects of Illinois’ ongoing pension crisis and the Illinois Senate’s proposed solution. Civic Federation President Laurence Msall notes the intent of Illinois’ pension protection clause was probably not to make it the only area of law not subject to correction by the Illinois General Assembly.
The following news items cover the release of the Institute for Illinois’ Fiscal Sustainability at the Civic Federation's State of Illinois FY2018 Budget Roadmap, which proposes a comprehensive multi-year plan to address the State’s ongoing financial crisis and budget impasse with painful but necessary spending limits and revenue enhancements. ----- Chicago Tribune: Morning Spin: Budget watchdog calls for 40 percent hike in state income tax rate Politico Illinois Playbook: Civic…
(CHICAGO) – In a report released today, the Civic Federation’s Institute for Illinois’ Fiscal Sustainability proposes a comprehensive five-year plan that addresses the State’s ongoing financial crisis and budget impasse with painful but necessary spending limits and revenue enhancements. The full 57-page report is available here. While Illinois has gone more than 19 months without a comprehensive, balanced budget, State government has continued to function because of court orders, consent…
Click here to read the full report. 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. This report presents the Civic Federation’s multi-year plan to stabilize Illinois’ finances and addresses the State’s critical financial situation. While Illinois has gone more than 19 months without a comprehensive, balanced budget, State…
In this segment, Civic Federation President Laurence Msall joined a Chicago Tonight panel to discuss Governor Rauner’s recent State of the State address and Illinois’ continued fiscal issues.
This article discusses a pension reform bill recently passed by the Illinois General Assembly aimed at shoring up Chicago’s municipal and laborer pension funds. Laurence Msall, President of the Civic Federation, remarks that the pension reforms are a step in the right direction but explains that more needs to be done to ensure the City’s ability to meet its long-term obligations.
The following are the five most read posts presented by the Civic Federation blog in 2016. These posts examine issues ranging from local government consolidation to pension funding reform. Cook County Electorate to Vote on Referendum to Merge the Recorder of Deeds with the County Clerk July 20, 2016 This post highlights an initiative long supported by the Civic Federation to merge the offices of the Cook County Clerk and the Cook County Recorder of Deeds. On June 29, 2016 the Cook…
