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Report: More Illinois debt likely following misuse of federal aid money

By Patrick Andriesen
08/23/2022
A Truth in Accounting report argued state authorities should have used billions in federal aid to pay down interest on existing pension debt rather than save it for a rainy day. Experts warn this could lead to more state borrowing.

TAGS: borrowing, credit rating, debt, Truth in Accounting

Chicago taxpayers on the hook for extra $2 billion under Lightfoot plan

11/21/2020
Lightfoot’s budget depends on borrowing and property tax hikes.

TAGS: borrowing, Chicago, debt, Lori Lightfoot, property taxes

Illinois first to rely on ‘lender of last resort’ borrowing from Federal Reserve

06/19/2020
Illinois' credit rating is just one notch above junk, the lowest of any U.S. state.

TAGS: borrowing, credit, Federal Reserve, JB Pritzker, Municipal Lending Facility

Federal Reserve throws credit lifeline to near-junk Illinois

04/16/2020
The Federal Reserve announced unprecedented plans to directly purchase up to $500 billion in state and local government bonds. States with poorly managed finances, such as Illinois, stand to benefit most, but long-term threats loom without structural reforms.

TAGS: bonds, borrowing, coronavirus, COVID-19, credit rating, Federal Reserve, rainy day fund

Bill proposes to tie Illinois state spending to what taxpayers can afford

03/06/2020
Lawmakers routinely spend faster than taxpayers’ incomes grow. A new bill would put Illinois with the majority of states that limit taxes or spending.

TAGS: borrowing, budget, constitutional amendment, deficit, government spending, pensions, spending cap, tax increase

Illinois banks $400M in savings from pension buyouts it can’t calculate

By Bill Reveille
04/11/2019
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.

TAGS: Accelerated Pension Benefit Payment, bonds, borrowing, debt, JB Pritzker, pension guarantee, pensions

Pritzker budget doubles down on failure

By Austin Berg
02/21/2019
Getting behind bipartisan budget reform is the kind of bravery Illinoisans deserve from the executive branch. Instead, they’re getting more of the same.

TAGS: balanced budget requirement, borrowing, budget, debt, JB Pritzker, pensions

Repeating past mistakes: Pritzker proposes borrowing, stretching out payment ramp as pension solution

By Brad Weisenstein
02/15/2019
Trying to fix a massive pension deficit with more tax increases, deferring payments and gambling with taxpayer money is a recipe for failure.

TAGS: bonds, borrowing, credit rating, Dan Hynes, JB Pritzker, pension guarantee, pensions, progressive income tax

Lawmakers consider borrowing $107B to pour into Illinois pensions

By Joe Tabor
01/31/2018
Record-breaking borrowing to fund Illinois' even more massive pension debt is no real solution to the state's pension problem.

TAGS: bonds, borrowing, credit rating, general obligation bonds, pensions

Illinois borrowing $750M at near-junk credit rating

By Austin Berg
11/29/2017
The state is borrowing millions to finance capital construction projects and information technology improvements. But Illinoisans continue to pay for the worst credit rating of any state in the nation.

TAGS: borrowing, capital project, construction, credit rating

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Chicago Policy Center / Research Report

A city charter could bring order to Chicago’s dysfunction. How can it get one?


A city charter would put much-needed guardrails on the Chicago government. Here’s what needs to happen to get one.

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Kane County Speaks

Labor / Policy Point

Process for unionizing non-state workers raises red flags

By Paul Kersey
06/19/2014
Illinois Policy In the News

CBS Chicago: Illinois’ highest-paid superintendent receives $400K per year to oversee 1,200 students

By Ted Dabrowski
05/02/2016

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