Emanuel shrugs at possible credit downgrade for Chicago

By Robert Brutvan

07/14/2017

Chicago Mayor Rahm Emanuel expressed little concern over Moody’s Investors Service’s announcement that it might downgrade Chicago’s already-junk-rated bonds over CPS budget problems.

TAGS: bonds, Chicago, CPS: Chicago Public Schools, credit rating, downgrade, Moody's Investor Service, Rahm Emanuel

Illinois budget ends tax break early, cost of gas to go up

By John Klingner

07/14/2017

As part of the just-enacted state budget, the General Assembly has moved up the expiration of a tax break for sales of gasoline mixed with ethanol. This will likely make the price at the pump go up.

TAGS: budget, ethanol, gas tax

Metro area unemployment: Which states are in reverse? Spotlight Illinois

07/13/2017

The U.S. unemployment rate is 4.4 percent, but unemployment varies widely among the nation’s 388 metro areas.

TAGS: jobs, unemployment

Moody’s right, S&P wrong on Illinois budget

By Ted Dabrowski, John Klingner

07/13/2017

Illinois’ bond rating may not be junk, but the state’s finances still are.

TAGS: bonds, credit rating, Moody's Investor Service, Standard & Poor's

Understanding why the new budget fails Illinoisans

By Ted Dabrowski, John Klingner

07/13/2017

Tax hikes on struggling Illinoisans as the state is bordering on a recession, a lack of structural spending reforms, no true pension reform, $100 million in pork spending, and the continued threat of a junk credit rating are among the ways the new Illinois budget fails taxpayers.

TAGS: budget, credit rating, debt, income tax, pensions, taxes

After historic tax hike, the real pain has just begun

By Austin Berg

07/13/2017

The state will eat a 32 percent larger chunk out of most workers’ paychecks, retroactive to July 1.

TAGS: budget, COGFA: Commission on Government Forecasting and Accountability, income tax, taxes

Illinois income tax increase now in effect

By John Kristof

07/12/2017

The Illinois Department of Revenue issued details on how to comply with the state’s increase income tax, signaling the reality of higher taxes for Illinoisans.

TAGS: budget, Illinois Department of Revenue, income tax, taxes

Rockford receives credit downgrade as pension debt grows

By Robert Brutvan

07/12/2017

As pension debt mounts, Moody’s Investors Services has downgraded the city of Rockford to an A2 rating.

TAGS: downgrade, pensions, Rockford

CPS borrows another $500M at sky-high interest rates

By Robert Brutvan

07/12/2017

Chicago Public Schools has issued an additional $500 million in long-term high-interest bonds, following $387 million the district borrowed from JPMorgan in June.

TAGS: bonds

New study ranks Illinois 2nd-worst in fiscal health

By Marianna Schmiesing

07/12/2017

New findings from the Mercatus Center highlight how Illinois’ reliance on debt and costly pension and other employment benefits have put the state on the wrong fiscal track.

TAGS: budget, pensions

Illinois

Emanuel shrugs at possible credit downgrade for Chicago

Illinois budget ends tax break early, cost of gas to go up

Metro area unemployment: Which states are in reverse? Spotlight Illinois

Moody’s right, S&P wrong on Illinois budget

Understanding why the new budget fails Illinoisans

After historic tax hike, the real pain has just begun

Illinois income tax increase now in effect

Rockford receives credit downgrade as pension debt grows

CPS borrows another $500M at sky-high interest rates

New study ranks Illinois 2nd-worst in fiscal health

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

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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