Without property and income tax relief, housing in Illinois will continue to be less attractive, Illinois’ population is likely to continue its decline and housing price appreciation can be expected to continue to lag the rest of the nation.View Report
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.
Despite claims from some state lawmakers that the fiscal year 2019 budget is balanced, official reports to bond buyers admit a deficit of more than $1 billion.
Illinois added 18,100 new jobs in June, the highest monthly increase since summer 2017, but the Prairie State still lags behind the rest of the nation for the post-recession period.
A landmark case on worker freedom could have positive effects on Illinois’ fiscal health, according to a leading ratings agency.
With pension debt straining city finances, local politicians have insisted on turning to its declining population for more tax revenue.
Lawmakers claiming to have passed a balanced budget are relying on a number of common, but deceptive, budget maneuvers.
Lawmakers should voluntarily adopt a spending cap to give taxpayers the certainty they deserve.
History shows lawmakers prefer to avoid tough but necessary choices.
One rating agency cited Illinois’ “persistent crisis-like budget environment” as explanation for the state’s near-junk credit. A spending cap constitutional amendment and pension reform could go a long way toward putting the state on a healthier fiscal path.
The city's budget for fiscal year 2019 was accompanied by increases in sales and telecom taxes. But local officials still anticipate a deficit.