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' credit rating is just one notch above junk, the lowest of any U.S. state.
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.
A proposal to levy a statewide 1 percent residential property tax would vault Illinoisans’ property tax burden to the highest of all 50 states.