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.

Gov. Bruce Rauner vetoed the $215 million bailout of Chicago Public Schools’ ailing teachers’ pension fund.

Even with the city’s record tax hike and massive borrowing, lack of reform means Chicagoans can expect to open up their wallets yet again.

The financial meltdown and Great Recession is teaching an expensive lesson: When big institutions face financial crises, governments are all too eager to bail them out.

Maryland stands to lose big if the government steps in to save state pension systems

The Institute's John Tillman was referenced in this opinion piece in The Wall Street Journal

President Obama and Congressional leaders will receive a letter from Illinois this week. Washington is urged to not bail Illinois, or any other state, out of debt. Last May, Senator Mark Kirk introduced a resolution in the U.S. Senate to put end federal bailouts of states. His reasons were simple and clear. The Federal government...