09.06.12
Although the State of Illinois is still burdened with a multibillion-dollar backlog of unpaid bills , one component of that backlog—unpaid income tax...
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08.31.12
The State of Illinois’ bond rating was reduced again this week but despite being one of the lowest rated state credits it remains well above the level assigned to speculative debt.
On August 29, 2012 Standard & Poor’s (S&P) reduced the State’s long-term General...
06.29.12
Despite increased revenues from higher income tax rates and a slight improvement in tax receipts due to...
05.01.12
The Civic Federation supports Governor Pat Quinn’s $57.4 billion FY2013 recommended operating budget, because it acknowledges the depth of the State’s financial problems and would put...
01.30.12
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...
01.12.12
On January 11, 2012, the State of Illinois sold $800 million of General Obligation bonds to support capital projects. The bond offering included $525 million of tax-exempt bonds, as well as $275 million of taxable bonds to reimburse other governments for...
01.06.12
Governor Pat Quinn released a three-year budget projection for the State of Illinois this week that shows only minor improvements in the State’s financial circumstances in the near term and...