Chicago Public Schools pulls bond sale
Chicago Public Schools pulls bond sale
Chicago Public Schools’ postponement of its $875 million bond sale indicates investors’ concerns over the financial state of the district.
Full text: Gov. Rauner’s 2016 State of the State address
Full text: Gov. Rauner’s 2016 State of the State address
Transcript, provided by Gov. Bruce Rauner’s office, of his 2016 State of the State address, as prepared for delivery, to the General Assembly on January 27, 2016.
Déjà vu: Illinois has billions in unpaid bills, Madigan calls for another tax hike
Déjà vu: Illinois has billions in unpaid bills, Madigan calls for another tax hike
Without fundamental reforms, the tax hike state Democrats want to impose will only drive Illinois further into decline.
Illinois’ fiscal problems drive away GE, spur talk of bankruptcy, pension reform
Illinois’ fiscal problems drive away GE, spur talk of bankruptcy, pension reform
The state must get its financial affairs in order by allowing municipal bankruptcy and enacting real pension reforms.
Rauner bringing Illinois government into 21st century with new tech agency
Rauner bringing Illinois government into 21st century with new tech agency
The Illinois Department of Innovation and Technology will tackle one of the state’s most important management problems – an outdated IT system that wastes taxpayer money.
The $53 million boogeyman: Illinois’ financial woes due to decades of mismanagement, not 7 months of gridlock
The $53 million boogeyman: Illinois’ financial woes due to decades of mismanagement, not 7 months of gridlock
Illinois paid $53 million more to borrow money through its Jan. 14 bond sale than it would have paid had politicians not let the state’s debt and government-worker pension obligations spiral out of control, while driving out taxpaying residents and businesses through tax hikes and costly regulations.
Bankruptcy talk hits Chicago: Illinois governor proposes bankruptcy for Chicago Public Schools
Bankruptcy talk hits Chicago: Illinois governor proposes bankruptcy for Chicago Public Schools
Gov. Bruce Rauner and Republican state lawmakers have proposed bankruptcy for Chicago Public Schools; Mayor Rahm Emanuel has rejected the idea of bankruptcy, repeating his demand that Illinois taxpayers bail out the struggling school district.
2011 income-tax hike turned Illinois into a top 5 state for total tax burden, new study shows
2011 income-tax hike turned Illinois into a top 5 state for total tax burden, new study shows
Illinoisans handed over a larger portion of their earnings to state and local governments than did taxpayers in 45 lower-tax states in fiscal year 2012, according to a new Tax Foundation study.
Illinois paid $1.6M to state workers whose workplaces are closed
Illinois paid $1.6M to state workers whose workplaces are closed
A pending lawsuit by the American Federation of State, County and Municipal Employees, among other unions, is keeping dozens of workers on state payrolls – even though their workplaces have been shuttered for months.
Illinois taxpayers will pay steep penalty rate in $500M bond issuance
Illinois taxpayers will pay steep penalty rate in $500M bond issuance
Illinois has the lowest credit rating among the 50 states, forcing taxpayers to pay hundreds of millions of dollars more in borrowing costs than residents of states in better fiscal condition.
Illinois’ budget from the inside: A conversation with State Budget Director Tim Nuding
Illinois’ budget from the inside: A conversation with State Budget Director Tim Nuding
Donna Arduin is an Illinois Policy Institute senior fellow and a partner at Arduin, Laffer & Moore Econometrics, a group that advises federal, state and municipal leaders, as well as political candidates and private-sector clients, on economic, fiscal and state policies.
Illinois to issue $500M in bonds, continues to pay highest borrowing rate of all 50 states
Illinois to issue $500M in bonds, continues to pay highest borrowing rate of all 50 states
Illinois’ monthslong budget gridlock, $111 billion in government-worker pension debt, and more than a decade of unbalanced budgets have resulted in credit downgrades for Illinois and the highest borrowing costs of any state in the nation.
Chicagoans the most-taxed residents in Illinois, paying more than 30 city taxes
Chicagoans the most-taxed residents in Illinois, paying more than 30 city taxes
Not only are city officials making Chicagoans pay more for services that aren't working, they are making them shoulder the highest tax burden in the state.
Fewer Illinoisans renewing vehicle registration in absence of mailed reminder notices
Fewer Illinoisans renewing vehicle registration in absence of mailed reminder notices
Budget gridlock in Springfield caused the Illinois secretary of state’s office to suspend mailing vehicle-registration renewal reminders.