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...
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...
04.30.15
To help cope with a massive budget deficit as State resources continue to fall in the coming fiscal year, Governor Bruce Rauner has proposed reducing or ending some statutorily required transfers that provide funding for programs and government services outside the General Funds budget....
04.16.15
Rhode Island recently reached a potential settlement agreement with most employee and retiree groups involved in litigation against its 2011 landmark pension reforms. The details of the agreement became...
04.10.15
A week after passing legislation to address a $1.6 billion budget deficit before the end of the fiscal year in June, the State swept $300 million into its operating accounts from funds designated to pay for annual transportation construction projects. An additional $200 million sweep of sales...
04.03.15
The State of Illinois recently enacted legislation designed to close a $1.6 billion budget gap for the fiscal year ending on June 30, 2015. This blog post reviews the causes of the operating deficit and examines Public Acts...
03.26.15
Under federal bankruptcy law, State governments decide whether and how local governments have access to Chapter 9 bankruptcy. There are 12 states that allow their local governments unfettered access to municipal bankruptcy, 12 states that allow municipal bankruptcy under certain conditions, two...
03.23.15
The most recent legislative analysis of the State of Illinois’ annual revenues provides little hope for additional gains from economic growth to help solve the State’s ongoing budget crisis. This is in contrast to the last several budget years when the State has experienced revenue growth during...
03.11.15
Under Governor Bruce Rauner’s proposed FY2016 budget, one of the largest sources of state funding for local governments in Illinois would be reduced by half. The reduction is part of more than $4 billion in spending cuts and $2.2 billion in estimated pension savings recommended by the Governor...
03.06.15
Governor Bruce Rauner’s recommended budget for fiscal year 2016 includes a new plan for reducing the State of Illinois’ massive pension costs. As...
02.27.15
Alongside his first operating budget proposed for the State of Illinois, Governor Bruce Rauner also recommended a capital budget for FY2016 that proposes shifting previously vetoed spending authority to pay for delayed maintenance at State owned facilities across the state.
As...