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Government Budgets

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Illinois Governments will Likely Issue More Short-Term Debt to Deal with Revenue Shortfalls Caused by the COVID-19 Pandemic

UPDATE: Since the Civic Federation published this blog post, there have been two significant updates to report, as detailed in this follow-up post…

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Cook County April Revenue Estimates Show Early Impact of COVID-19

Revenue estimates presented at the April 29, 2020 meeting of the…

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Estimating the COVID-19 Pandemic’s Impact on the State of Illinois Budget

UPDATE: On May 5, Illinois…

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How Will CARES Act Funding Be Divided Among Illinois and its Local Governments?

The $2.2 trillion economic relief legislation passed by Congress in late March contains significant new funding for States and large local governments. Exactly how…

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Income Tax Delay Could Boost Illinois’ Bill Backlog

Like most states that levy income taxes, Illinois has followed the federal government in…

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What Limitations do States Face in Addressing a Coronavirus Pandemic Recession?

States are currently facing monumental fiscal challenges posed by the economic and revenue impacts of the coronavirus pandemic. However, their ability to use fiscal policies to address these challenges is quite limited due to structural…

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Best Defense Against Virus Proves Crushing to States' Finances

As state and local governments continued to increase the intensity of their responses to the Covid-19 pandemic, this article examined the effect social distancing and business closures could have on state and local budgets. Civic…

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New Report Shows Potential Virus Impact on Illinois Tax Revenues

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Trends in Illinois Department of Corrections Spending and Prison Population

Throughout the United States there is a…

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State of Illinois FY2021 Public Safety Budget Basics

As described in a previous blog post, Governor J.B. Pritzker’s…