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
Only Gov. J.B. Pritzker’s progressive income tax amendment will appear on the ballot in November. Voters were denied a chance to make critical reforms to state government.
Two decades of fiscal mismanagement have left state finances ill-prepared for the COVID-19 pandemic. Congress should condition any additional aid for troubled states on taxpayer protections that ensure pensions are solvent, accounting is realistic and budgets are balanced.
As Illinois teeters on the edge of a junk credit rating, one key policymaker is floating bankruptcy as a solution.
Illinois’ financial outlook was changed from ‘stable’ to ‘negative’ by two major ratings firms, raising the risk the state’s credit rating will formally fall to non-investment grade status.
House Speaker Mike Madigan has built a substantial political army through taxpayer-funded promises.
Illinoisans will soon cast a vote on the biggest ballot question in the history of Madigan’s record-breaking speakership.
Illinois suffered its sixth consecutive year of population decline in 2019, driven entirely by residents leaving for other states.
Contracts went to relatives, associates of former vice chancellor in exchange for kickbacks, charges state. Some contracts required no work.
Illinois politicians have too often ignored the necessity of true pension reform and instead opted for tax hikes.
Financial stress testing shows Illinois and New Jersey are the most unprepared for the next recession. Both states lack sufficient rainy day funds and struggle with large pension debt.