09.26.14
As recently as 2011, the State of Illinois projected its backlog of unpaid income tax refunds could increase to more than $1.0 billion but by the end of FY2014 nearly all refunds were paid. In FY2015, for the...
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05.29.14
UPDATE: Illinois General Assembly Passes FY2015 Budget
On May 30, 2014, a day before the end of the Illinois General Assembly’s regular spring session, the Senate passed the FY2015 budget previously approved by the House.
As discussed below, the budget does not cut spending or...
05.13.14
The Civic Federation opposes Governor Pat Quinn’s recommended budget for FY2015 because it uses revenue from extending the 2011 temporary income tax increase for new spending. The State...
05.09.14
As part of the FY2015 budget recommendation for the State of Illinois, Governor Pat Quinn provided two separate five-year projections for both “...
03.28.14
On March 26, 2014, Governor Pat Quinn presented an FY2015 budget proposal for the State of Illinois that avoids a fiscal cliff by retaining temporary income tax increases that were scheduled to be phased out beginning in...
03.20.14
Next week Governor Pat Quinn will give his sixth budget address since taking office in 2009. The budget is expected to be one of the most difficult of his tenure considering that the State is currently expected to have approximately $5.4 billion in unpaid bills at the end of FY2014 and will see...
03.03.14
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...
02.28.14
The Illinois House of Representatives has approved a revenue projection for the coming fiscal year that includes a $2.2 billion loss in operating resources for FY2015, after a holding series of committee meetings to deliberate varying estimates.
The General Funds revenue estimate...