Illinois

Illinois Forward 2026: How the state can spend responsibly

By Ravi Mishra, Lauren Zuar
02/12/2025
After years of splurging with revenue boosted by temporary federal aid, future deficits over $5 billion await the Illinois state budget. It’s time Illinois state leaders learn from past mistakes and manage other people’s money responsibly.

Illinois lawmakers plan to short pensions by $5.1B in July

By Bryce Hill
02/10/2025
Illinois’ five state-run retirement systems need $16.8 billion in funding for the coming fiscal year, but state lawmakers only plan to pay $11.7 billion. That’s $5.1 billion less than needed for plans already approaching insolvency.

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...