Due to its poor financial health and lagging economy, Illinois carries unique economic and fiscal risks from a prolonged market downturn or recession. The state must act now to mitigate harm from COVID-19.View Report
Illinois Gov. J.B. Pritzker previously floated a pension plan that included pawning-off state assets, taking on more high-interest debt and reducing pension funding before walking back the plan amid criticism. Here’s a real solution.
Faced with the impossible task of balancing Chicago’s budget without pension reform, Mayor Lori Lightfoot is forced to partially rely on phantom cuts and revenues.
Illinois borrows money to reduce pension obligations, with more borrowing planned. Claims $400 million in current budget savings, but admits to investors it cannot calculate any savings.
A report from one of the largest credit rating agencies criticized Gov. J.B. Pritzker’s “dubious” budget proposal for avoiding necessary fiscal reforms.
Trying to fix a massive pension deficit with more tax increases, deferring payments and gambling with taxpayer money is a recipe for failure.
Ahead of Gov. Pritzker’s first budget address, one of the “big three” credit rating services warned the new governor against raising taxes.
Voters in Maine Township High School District 207 will consider Nov. 6 whether to approve a $195 million bond referendum to update its three high schools in northern Cook County.
According to a new report by Moody’s Investors Service, Illinois’ unfunded pension liabilities equaled 601 percent of state revenues in 2017, a U.S. record.
While the name of the home stadium for the Chicago White Sox has changed over the years, its status as a tax burden has not.
With pension debt straining city finances, local politicians have insisted on turning to its declining population for more tax revenue.