Will Illinois pass a budget this year?

By Adam Schuster

04/20/2018

History shows lawmakers prefer to avoid tough but necessary choices.

TAGS: balanced budget requirement, budget, credit rating, debt, income tax, Mike Madigan, progressive income tax, Spending, spending cap, taxes

Why Illinois needs a spending cap

By Orphe Divounguy, Bryce Hill, Joe Tabor

01/27/2018

Spending has consistently outpaced state tax revenues in Illinois for more than a decade. To avoid future tax hikes, Illinois must impose real fiscal discipline on state lawmakers.

TAGS: debt, deficit, Illinois General Assembly, income tax, Spending, taxes

‘Sinkhole city’: Accounting watchdog gives Chicago an F in fiscal health

By Vincent Caruso

01/26/2018

A recent analysis ranked 75 of the most populated cities in terms of fiscal health - and placed the Windy City next to dead-last.

TAGS: Chicago, debt, Rahm Emanuel, taxes

Illinois ranks among bottom states in fiscal health

By Vincent Caruso

11/10/2017

A new study highlights the gravity of Illinois' fiscal crisis.

TAGS: budget, debt, deficit, pew research

Cook County local government debt hits $139 billion

By Chris Lentino

11/07/2017

Cook County governments have now amassed $139 billion in debt, a 30 percent increase over the last 5 years.

TAGS: Chicago, Cook County, CPS: Chicago Public Schools, debt, local government, municipal pensions

Billions in unpaid health care bills shine a light on overly generous benefits

By Ted Dabrowski, John Klingner

10/06/2017

State workers receive a platinum-level health care plan at a heavily subsidized cost, while Illinoisans in the private sector paying for those plans see their own premiums skyrocket.

TAGS: AFSCME: American Federation of State County and Municipal Employees, debt, health care, pensions

Illinois state budget already in deficit despite record $5 billion tax hike

By Ted Dabrowski, John Klingner

09/25/2017

With the 2018 budget set to spend at least $1.3 billion more than it takes in, members of the General Assembly have hoodwinked Illinoisans once again.

TAGS: budget, COGFA, debt, LGDF: Local Government Distributive Fund, pensions, unpaid bills

Each Chicago household on the hook for $82K in local government debt

By Ted Dabrowski, John Klingner

09/11/2017

After a tax hike spree from Chicago-area politicians, residents are stuck paying more only to carry an ever-larger load of debt.

TAGS: Chicago, debt, municipal pensions, pensions, property taxes, Rahm Emanuel

Rauner issues amendatory veto of banker bailout bill

By Mindy Ruckman

08/29/2017

House Bill 3004 would have put banks and bondholders ahead of taxpayers and those who rely on government services. But Gov. Bruce Rauner’s amendatory veto strips the bill of those bailout provisions.

TAGS: bonds, Bruce Rauner, CTA: Chicago Transit Authority, debt, Illinois General Assembly, RTA: Regional Transportation Authority

Fitch keeps Illinois’ credit above junk but negative outlook remains

By John Klingner, Evelyn Hussey

07/20/2017

Of the three major ratings agencies, only Moody’s Investors Service has indicated that Illinois lawmakers’ lack of long-term solutions for reducing that debt is a severe problem.

TAGS: bonds, budget, credit rating, debt, Fitch Ratings, Moody's Investor Service, Standard & Poor's