Johnson proposes record budget for Chicago with $427 million in higher taxes and fees and $231 million in one-time revenues

By Bryce Hill

10/21/2026

The $17.6 billion proposal relies primarily on hikes to close a projected $882.4 million Corporate Fund deficit.

TAGS: Brandon Johnson

How will Chicago address a projected $882 million budget deficit?

By Ethan Soifer

10/06/2026

Aldermen have warned Mayor Brandon Johnson what they will not support.

Even after upgrades, Illinois’ credit rating is still worst in the nation

By Ethan Soifer

09/30/2026

The ongoing pension crisis is a big part of it.

TAGS: credit rating, JB Pritzker

Chicago Public Schools has same credit rating as Colombia, Vietnam

By Mailee Smith

08/21/2025

The Chicago Public Schools board is set to vote on the district’s 2025-2026 budget on Aug. 28. It must close a $734 million budget hole, but the district’s finances are a mess.

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...

5 principles to guide Illinois’ public pension reform

By LyLena Estabine

01/16/2025

With nearly $214 billion in state and local pension debt threatening both retirees and government finances, Illinois needs a new path forward. Here are five principles to guide the state, protect taxpayers and safeguard public servants.

Fed: Illinois unemployment rate 2nd-highest in nation

By Justin Carlson

12/23/2022

Analysis from the Federal Reserve Bank of Philadelphia indicates Illinois lost jobs during Q2 rather than gaining, as previously reported. It may still be losing jobs. Illinois ranked No. 2 for highest unemployment in November.

TAGS: IDES: Illinois Department of Employment Security, jobs, unemployment

Illinois metro areas’ unemployment rates among worst in U.S.

By Justin Carlson

12/16/2022

Illinois’ metro areas already face unemployment problems, with some of the nation’s worst rates. They could be hit harder by a recession than other places in the nation.

Illinois unemployment highest in U.S. for 2nd month

By Justin Carlson

11/28/2022

Illinois only added 3,600 jobs in October, a drastic drop in job growth coming amid persistent inflation and rising recession fears. Unemployment led the nation.

TAGS: Illinois, unemployment

Small businesses led Illinois’ COVID-19 jobs recovery

By Bryce Hill

11/23/2022

Small Business Saturday offers a reason to be extra thankful: businesses with fewer than 20 employees were the only ones to grow payrolls since COVID-19 hit.

TAGS: COVID-19, small business

Fitch Ratings

Johnson proposes record budget for Chicago with $427 million in higher taxes and fees and $231 million in one-time revenues

How will Chicago address a projected $882 million budget deficit?

Even after upgrades, Illinois’ credit rating is still worst in the nation

Chicago Public Schools has same credit rating as Colombia, Vietnam

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

5 principles to guide Illinois’ public pension reform

Fed: Illinois unemployment rate 2nd-highest in nation

Illinois metro areas’ unemployment rates among worst in U.S.

Illinois unemployment highest in U.S. for 2nd month

Small businesses led Illinois’ COVID-19 jobs recovery

Taxed out: 10 reforms to stop Illinois from losing people and jobs

Report Archive

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Process for unionizing non-state workers raises red flags

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