Budget + Tax

Moody’s and S&P downgrade Illinois’ credit rating, the 16th and 17th downgrades since 2009

Moody’s and S&P downgrade Illinois’ credit rating, the 16th and 17th downgrades since 2009

Major ratings agencies have assigned a negative outlook to Illinois. To move forward, the state can’t pass just any budget – especially one that’s $7 billion out-of-whack – to get beyond its crisis. With today’s fiscal stress, a bad budget is worse than no budget. A budget without reforms will only allow Illinois’ debt to continue to spiral, putting investors – and more importantly, Illinois residents – at risk.

By Ted Dabrowski, John Klingner

From budget gridlock to traffic gridlock: Resumption of vehicle-emissions-testing requirements causes traffic jams

From budget gridlock to traffic gridlock: Resumption of vehicle-emissions-testing requirements causes traffic jams

The Illinois Environmental Protection Agency is again mailing notices of vehicle-emissions-testing requirements to vehicle owners, and effective June 1, the Illinois secretary of state has resumed requiring certain drivers to pass emissions tests prior to renewing their license plates. Drivers scrambling to comply by the secretary of state’s June 1 effective date caused headline-making traffic jams throughout Chicago and its suburbs.

By Amy Korte

Illinois taxpayers paying for billionaires’ stadiums

Illinois taxpayers paying for billionaires’ stadiums

Taxpayers will shell out $36 million for Soldier Field in 2016, in addition to footing the bill for U.S. Cellular Field. And the city of Chicago is still pushing a plan for DePaul University that would cost an initial $55 million for a new basketball stadium.

Cheryl Ohrt

Cheryl Ohrt

“I’m retired and my husband farms and works at the Vulcan stone quarry. “We’ve been here since 1987. When we bought this house our taxes were $900 on two acres. I just got our property tax bill today and it was almost $5,000. “You try and fix your yard up, your house up, and anything...