Illinois' credit rating is just one notch above junk, the lowest of any U.S. state.

Lawmakers made no serious attempt to balance the new budget, instead counting on a federal bailout.

Lawmakers made no serious attempt to balance the new budget, instead counting on a federal bailout. They accepted an $1,800 raise for themselves, while only making significant cuts to education.

City leaders must prioritize critical spending – and avoid hiking taxes on a struggling economy.

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.

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.

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.

Each year, tens of billions of dollars flow through Illinois state government.1 These flows all depend on methods of payment. In deciding on those payment methods, policymakers must consider a number of important factors, including security controls, cost effectiveness, accessibility, speed and allowance for choice. This report shows that by adopting best practices across all...

Gov. J.B. Pritzker inherited a $2.8 billion budget deficit the moment he stepped into office. Next year, that deficit is projected to be $3.4 billion1. It’s the same story every budget season. But Illinois’ budget crises could be a thing of the past if the state would adopt pension reform, right-size its union contracts and...