This segment discusses the State of Illinois’ almost year-long budget impasse and how the expiration of the 2011 temporary income tax hike in 2015 has affected the State’s finances. Civic Federation President Laurence Msall remarks that Illinois never had a plan for the expiration of the temporary income tax or how the State would handle the huge decrease in revenues.
This article explains that the City of Chicago has yet to provide alternative reforms for two of its pension funds after an Illinois Supreme Court ruling overturned the City’s previous reform plan. Civic Federation President Laurence Msall says the Illinois Supreme Court leaves open the possibility of future benefit changes but has not provided firm direction on how the Illinois General Assembly or City of Chicago could accomplish them.
This editorial reports on findings included in the Civic Federation’s recent analysis of Governor Rauner’s FY2017 proposed budget and discusses the budget’s issues. The Editorial Board says the Federation’s analysis is correct in its conclusion that parts of the Governor’s proposed spending plan are imprudent and unrealistic.
This segment reports on two General Assembly working groups currently meeting in Springfield to negotiate an end to Illinois’ FY2016 budget impasse. Laurence Msall, President of the Civic Federation, notes that the State cannot go another year without a budget. This piece also highlights key findings from the Civic Federation’s recent analysis of Governor Rauner’s FY2017 proposed budget.
This article discusses the Civic Federation’s recent analysis of Governor Rauner’s FY2017 proposed budget for the State of Illinois that includes a $3.5 billion deficit. Civic Federation President Laurence Msall remarks that the proposed spending for FY2017 is only worsening the State’s finances.
The City of Chicago and Cook County recently joined a number of states nationwide in a move to exempt female hygiene products from the sales tax. At the Local Level On March 16, 2016 the Chicago City Council voted to exempt certain female hygiene products from Chicago’s Home Rule Municipal Retailer’s Occupation Tax of 1.25%. The City Council also passed two resolutions calling on the Illinois General Assembly and the Illinois Department of Revenue to reclassify female…
Urges General Assembly and Governor not to pass or sign any appropriations for FY2017 unless part of a comprehensive plan (CHICAGO) – In a report released today, the Civic Federation’s Institute for Illinois’ Fiscal Sustainability announced its opposition to Governor Rauner’s recommended budget for FY2017 because it has an operating deficit of at least $3.5 billion and presents an insufficiently detailed plan for closing the gap. The Institute’s full 92-page report is available here.…
This article discusses the City of Chicago’s billion-dollar plan to build the George Lucas Museum of Narrative Art that will require borrowing and tax increases. Laurence Msall, President of the Civic Federation, explains that until an agreement is made by the State on how to prioritize spending, it will be hard for any project of this magnitude to be addressed.
This article examines the amount of borrowing and tax increases necessary for the City to construct the George Lucas Museum of Narrative Art. Laurence Msall, President of the Civic Federation, notes that it would be difficult to prioritize such a project in the midst of the budget impasse.
This article discusses a recent state budget forum featuring a panel of eight Illinois lawmakers providing their respective insights on Illinois’ current financial crisis. Civic Federation President Laurence Msall co-moderated the event. He called on lawmakers to provide specific solutions to end the budget impasse and reinforced the reality that in the absence of an FY2016 budget, Illinois is spending more than it is taking in.
