08.19.16
August 24, 2016
UPDATE 3: The State now plans to post the draft waiver application on August 26 and hold public hearings in Springfield on September 8 and Chicago on September 9. For more...
Library
07.14.16
Despite a stopgap spending measure enacted on June 30, 2016, State of Illinois appropriations for higher education remain below expenditures in fiscal year 2015—the last year the State had a complete...
07.01.16
After a yearlong stalemate, the State of Illinois finally saw a crack in its ongoing budget impasse on the last day of the fiscal year. The General Assembly rushed approval of bills authorizing a full year of preschool through high school education funding, including additional assistance for...
05.19.16
With the current year’s budget still incomplete, the State of Illinois is now facing the prospect of starting another year without a financial plan.
Due to a political dispute between Illinois’ Republican Governor and Democratic legislators who control the General Assembly, the State...
05.05.16
The State of Illinois can add another complication to its already stressed financial condition, an $800.7 million shortfall in its capital spending plan caused by failure in several of the dedicated revenue sources enacted to fund debt service.
The State relies heavily on the sale of...
03.25.16
As the State of Illinois’ budget impasse continues to drag on, it is commonly overlooked that the underlying economy and tax base in the State continue to grow.
In FY2017 the State of Illinois is projected to have an additional $631 million in General Funds revenues available compared to...
03.03.16
With the budget for the current fiscal year still incomplete, Governor Bruce Rauner proposed a financial plan for the next budget year with an operating deficit of $3.5 billion.
The...
01.14.16
A new report by Governor Bruce Rauner’s administration projects that the State of Illinois’ backlog of unpaid bills could grow to $25.0 billion in FY2019 from $4.4 billion in FY2015 based on current tax and spending policies.
The...
11.11.15
The State of Illinois’ contributions to its five pension funds will rise by $288.8 million to $7.8 billion in the next budget year, according to preliminary estimates by the retirement systems.
The proposed 3.8% increase will add to the State’s budgetary pressures in the year that begins...
01.02.15
A drop in Illinois’ income tax rates—and uncertainty about the implementation of pension changes—could cause the State’s backlog of unpaid bills to grow to $9.9 billion by the end of the 2016 budget year, according to a new forecast by Governor Pat Quinn’s office.
Along with the decline...