The Illinois Federation of Teachers in 2021 spent 190 times more on Chicago-area teachers than it did on teachers south of Interstate 80. That could be why IFT membership has shrunk nearly 18% since 2017.View Report
Automatic transfers into Illinois’ rainy-day reserves could help when another fiscal crisis similar to COVID-19 happens.
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.
With economic challenges driven by the coronavirus ahead, Illinois finds itself missing an important financial tool.