08.06.20
The COVID-19 pandemic has had a devastating impact on state budgets, with tax revenue shortfalls estimated to total about $200 billion for fiscal years 2020 and 2021 compared with initial projections. [1] What actions are states taking to deal with...
06.26.20
Since the Civic Federation published a blog on short-term debt in Illinois on May 22, 2020, there have been two significant updates to...
06.02.20
When Illinois lawmakers met in Springfield to pass a budget for the upcoming fiscal year, the main issue they confronted was the tax shortfall caused by COVID-19. They did not want to...
05.22.20
UPDATE : Since the Civic Federation published this blog post, there have been two significant updates to report, as detailed in this follow-up post .
Governments frequently borrow funds on a...
05.11.20
05.04.20
UPDATE : On May 5, Illinois delayed the planned sale of $1.2 billion of...
04.30.20
A Commission of the Illinois Supreme Court tasked with making recommendations for comprehensive pretrial reform in Illinois released its final report earlier this month. The Illinois Supreme Court Commission on Pretrial...
04.15.20
The $2.2 trillion economic relief legislation passed by Congress in late March contains significant new funding for States and large local governments. Exactly how the money will be split appears to have caused...
04.13.20
Like most states that levy income taxes, Illinois has followed the federal government in extending the...
04.03.20
States are currently facing monumental fiscal challenges posed by the economic and revenue impacts of the coronavirus pandemic. However, their ability to use fiscal policies to address these challenges is quite limited due to structural and capacity issues. Only the federal government has the...
