07.02.15
The Civic Federation’s Annual Civic Awards Luncheon honoring Tyrone C. Fahner and The Boeing Company has been rescheduled for Monday, September 21 at 11:30 a.m. at the Palmer House Hilton. The event was not held on Thursday, June 18 as originally planned due to logistical conflicts with...
06.24.15
Two weeks after a judge gave final approval to a settlement agreement that would end several years of litigation and mediation over a 2011 public pension reform law, the...
06.18.15
On June 17, 2015 the Chicago City Council approved the largest borrowing of Mayor Rahm Emanuel’s tenure, totaling $1.1 billion. The issuance pays for the current costs of refinancing the City of Chicago’s variable rate debt, ending its outstanding swaps, extending the life of other...
06.11.15
The Illinois General Assembly has approved a $36.3 billion general operating budget for the upcoming fiscal year with an acknowledged shortfall of at least $3.0 billion in revenues.
The package of approximately 20 appropriation bills and other budget-related legislation was passed during...
06.10.15
This annual brief provides a compilation of selected consumer taxes, including rates and descriptions, in place in the City of Chicago as of January 1, 2015. It includes such taxes as the sales...
06.05.15
In December 2010 the Illinois General Assembly passed and then Governor Quinn signed legislation (Public Act 96-1495) that created a new tier of pension benefits for public safety employees in Illinois hired on...
05.29.15
UPDATE: Subsequent to the publication of this blog, House Bill 777 was amended to include provisions of the...
05.22.15
Recently, Moody’s Investors Service downgraded the City of Chicago ,...
05.12.15
An Illinois Supreme Court decision overturning legislation to reduce the State’s massive pension costs will add to the difficulty of creating a balanced operating budget for the year that begins on July 1, 2015.
The high court...
05.07.15
The Civic Federation opposes Governor Bruce Rauner’s recommended budget for FY2016 because it relies heavily on projected savings that do not appear to be achievable or prudent in light of...
