10.13.17
When the Illinois General Assembly overrode Governor Rauner’s veto of the FY2018 budget package in July, it estimated that the enacted budget would have an operating surplus of about $360 million....
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07.07.17
The State of Illinois ended its two-year budget impasse on July 6, 2017, enacting a $36.1 billion spending plan with about $5 billion in tax increases.
To break the logjam, the General Assembly narrowly overrode Governor Bruce Rauner’s...
02.24.17
As Illinois endured its 20th month without a complete budget, Governor Bruce Rauner proposed a financial plan for the upcoming fiscal year with a significant operating deficit and no details on how to address the State’s multi-billion backlog of unpaid bills.
The...
02.10.17
The Institute for Illinois’ Fiscal Sustainability at the Civic Federation today released its annual Roadmap , with recommendations to restore fiscal balance to Illinois.
Illinois has gone more than 19...
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...
06.09.16
The Illinois General Assembly ended its regular spring session on May 31, 2016 without passing a budget for the upcoming fiscal year. The legislature now has less than one month to complete a budget for the year that begins on July 1, and passage has become more difficult.
After the end...
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...
03.03.16
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...