07.14.10
Almost immediately after the Illinois General Assembly approved an unbalanced budget for FY2011, two of the three major rating agencies downgraded the state’s debt ratings.
It was the fifth time in the last 18 months that...
07.14.10
Almost immediately after the Illinois General Assembly approved an unbalanced budget for FY2011, two of the three major rating agencies downgraded the state’s debt ratings.
It was the fifth time in the last 18 months that...
06.04.10
Before adjourning for a second time this session on May 28, 2010, the Illinois General Assembly sent a series of budget bills for FY2011 to the Governor. Both houses passed $26.0 billion in appropriations, emergency budget powers for the Governor, several one-time revenue sources and some...
05.18.10
Despite the General Assembly’s goal to pass a budget for FY2011 and adjourn by May 7, 2010, legislators headed home after the session ended with no budget and no clear path out of the State’s current woeful financial situation.
Although multiple appropriations bills, revenue...
04.29.10
The Civic Federation recently released its analysis of Governor Pat Quinn’s recommended FY2011 operating and capital budgets for the State of Illinois. One of the Federation’s strongest points of opposition to the...
04.26.10
The Civic Federation opposes Governor Pat Quinn’s $52 billion FY2011 recommended operating budget for the State of Illinois because it is unbalanced and does too little to address the State...
03.23.10
Governor Pat Quinn’s recommended FY2011 budget, issued on March 10, 2010, proposes borrowing $4.7 billion to cover FY2011’s projected operating deficit. No details about the Governor’s borrowing plan have yet been made available. However, the budget proposal states that...
03.17.10
Although the proposed FY2011 operating budget for the State of Illinois, which includes a $4.7 billion annual deficit and carrying forward $6 billion in unpaid bills, has garnered the most attention since being...
03.04.10
02.22.10
02.17.10
The State’s fiscal crisis is causing substantial difficulties for residents, state workers, state service providers and other governments. Budget cuts in early FY2010, which began July 1, led to...