A way out: Bankruptcy authorization would give struggling Illinois municipalities options

By Joe Tabor

02/10/2025

Published Feb. 10, 2025 Even though federal COVID relief funds provided an unexpected windfall, that one-time jolt of cash could leave many Illinois localities even worse off than they were before. That boost in revenue allowed local governments to put off difficult budgeting decisions, and as that revenue dries up, municipalities will have to contend...

Pritzker would veto Chicago mayor’s financial transaction tax plan

By Dylan Sharkey

10/17/2023

Gov. J.B. Pritzker said he would oppose a financial transaction tax that Chicago Mayor Brandon Johnson wants as part of his plan for $800 million in new taxes.

TAGS: Brandon Johnson, JB Pritzker

Federal Reserve throws credit lifeline to near-junk Illinois

By Adam Schuster

04/16/2020

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.

TAGS: bonds, borrowing, coronavirus, COVID-19, credit rating, Federal Reserve, rainy day fund

To fight COVID-19 economic harm, Illinois must delay or cancel taxes and fees where possible

By Adam Schuster

04/02/2020

Struggling businesses, individuals and families need relief while the economy is shut down. Despite Illinois’ financial woes, leaders can help the recovery by lifting government-imposed financial burdens.

TAGS: coronavirus, COVID-19, emergency, executive order, fees, JB Pritzker, progressive income tax, property taxes

IRS data show continuing Illinois wealth flight

By Orphe Divounguy

10/02/2017

Illinois households that moved out of state earned $19,600 more, on average, than those who moved in during the 2014-2015 tax year.

Top 10 facts on 401(k)s for government workers

10/20/2014

Illinois politicians have looted and mismanaged government-worker pensions for decades. Now the retirement security of government workers is at risk. It’s time to take politicians out of the retirement business and give workers control over their own retirement futures. Here are the top 10 facts you need to know about 401(k)-style retirement plans: 1) 401(k)s...

Nation’s worst credit rating costs Illinois millions more in interest payments

By Benjamin VanMetre

08/11/2014

Illinois has the lowest credit rating in the nation. And just like people with poor credit scores, the state must pay higher interest rates. Higher rates mean higher interest payments that drain the budget and leave less money for education, health care and public safety. For every $1 billion of new borrowing, Illinois taxpayers are...

TAGS: credit rating

401(k)-style retirement plans are the new normal; Illinois should get on board

By Benjamin VanMetre

07/30/2014

401(k)-style retirement plans have become America’s primary retirement vehicle. In 1985, only one in 10 Fortune 100 companies offered 401(k)-style retirement plans to their employees. Today, seven in 10 Fortune 100 companies provide only defined-contribution, 401(k)-style retirement plans to new employees. This trend is in line with the private sector overall, where nearly 85 percent of...

Illinois borrowing penalty still three times higher than when Quinn took office

02/06/2014

It didn’t take long for Illinois’ spending machine to cram more debt down taxpayers’ throats. Only two months after signing a pension bill, Gov. Pat Quinn is borrowing yet another $1 billion to fund state construction projects. This will be the first large borrowing for Illinois since it passed Senate Bill 1, a pension fix...

TAGS: borrowing, capital project, debt, Pat Quinn, penalty borrowing rate, pensions

2.1 million Americans “enrolled” in ObamaCare exchanges through Dec.

By Naomi Lopez Bauman

01/13/2014

The U.S. Department of Health and Human Services has released its latest ObamaCare enrollment numbers, and it is easy to see why the Obama administration has been so reluctant to reveal detailed enrollment data. About 2.1 million Americans “enrolled” in the ObamaCare exchanges through Dec. 28. That number is far below the Obama administration’s impending...

TAGS: ACA: Affordable Care Act

Bloomberg Television

A way out: Bankruptcy authorization would give struggling Illinois municipalities options

Pritzker would veto Chicago mayor’s financial transaction tax plan

Federal Reserve throws credit lifeline to near-junk Illinois

To fight COVID-19 economic harm, Illinois must delay or cancel taxes and fees where possible

IRS data show continuing Illinois wealth flight

Top 10 facts on 401(k)s for government workers

Nation’s worst credit rating costs Illinois millions more in interest payments

401(k)-style retirement plans are the new normal; Illinois should get on board

Illinois borrowing penalty still three times higher than when Quinn took office

2.1 million Americans “enrolled” in ObamaCare exchanges through Dec.

Chicago Forward 2026: A pro-growth plan to end city budget deficits

Report Archive

Diana Graham

Process for unionizing non-state workers raises red flags

CBS Chicago: Illinois’ highest-paid superintendent receives $400K per year to oversee 1,200 students