Illinois

State’s bond rating drives up borrowing costs

08/30/2010
by Heather Wilhelm It sure is getting expensive to be broke these days, and Illinois is learning the hard way, according to the Civic Federation’s latest study.  The Chicago Sun-Times reports: The state’s miserable bond rating has driven up borrowing costs for state government by more than $500 million since last year, a government watchdog...

Sales Tax Confusion for Chicago Restaurants

08/30/2010
by Brian Costin A recent Chicago Reader article highlights confusion among Chicago’s restaurants in regards to the recent Cook County sales tax reduction, and a myriad of different taxing districts within the city. Every retail establishment in Chicago must collect and turn over to the Illinois Department of Revenue a 9.75 percent “retailers’ occupation tax”—or sales tax. This...

Daley Privatizing the Taste of Chicago

08/27/2010
by Ashley Muchow Chicago mayor, Richard Daley has announced the Windy City will consider privatizing its recycling program and lakefront festivals to assist in closing the city’s budget deficit.  Though a nominal amount compared to the state’s $13 billion budget deficit, Daley is determined to close the city’s $655 million budget hole without raising taxes. Following well known moves...

Fixed Race To The Top?

08/27/2010
by Collin Hitt Illinois lost a very-high-stakes federal grant competition. The “Race To The Top” program has gathered headlines across the country for the better part of a year.  It wrapped up earlier this week, with 12 states and the District of Columbia splitting $4B in stimulus largesse to fund public education. Ostensibly, the grant...

Regime Uncertainty

08/25/2010
by Kate Piercy “Where are the new jobs?” asks John Stossel in his article today. Why aren’t businesses hiring? Well, Stossel concludes businesses will not start investing in new workers until the current “regime of uncertainty” ends, explaining: After previous recessions, unemployment didn’t get stuck at close to 10 percent. If left alone, the economy can...

Pension Systems Selling Assets to Cover Benefits

08/25/2010
by Kristina Rasmussen From Crain’s: Illinois Teachers’ Retirement System, Springfield, plans to sell $3 billion in investments, or about 10% of its $33.1 billion in assets, in the current fiscal year to pay pension benefits, according to Dave Urbanek, public information officer. The system is the fifth Illinois statewide defined benefit plan to sell off investments this...

The State Un-Fair Questions and Answers

08/24/2010
by Amanda Griffin-Johnson The Institute recently released “Spotlight on Spending #9: The State Un-Fair” reviewing the Illinois and DuQuoin State Fairs between fiscal year 2001 and fiscal year 2009. There has been some confusion about the paper, and we’d like to take a blog post to help clarify some of these questions. 1. “If you can...

Meat & Poultry Inspector Supervisors Paid $616K

08/23/2010
by Will Compernolle The Department of Agriculture for the State of Illinois paid 11 meat and poultry inspector supervisors $616,597.87 in combined total wages in the fiscal year 2008. The average meat and poultry inspector supervisor was paid an annual salary of $56,054.35 with the highest salary being $61,633. The Illinois Department of Central Management Services website...

Illinois borrows to pay unemployment benefits

08/20/2010
by Kristina Rasmussen Add this to Illinois’s debt tab. According to the State Journal-Register: Illinois has borrowed more than $2.2 billion from the federal government since July 2009 to pay unemployment benefits. Unemployment benefits are funded through withholding taxes on employers; raising those taxes in a fragile economy is a non starter.  

SEC Charges NJ — is IL Next?

08/20/2010
by Kristina Rasmussen This bit of news is creating quite a stir in certain circles: The U.S. Securities and Exchange Commission (SEC) charged the state of New Jersey Wednesday with lying and withholding information to investors in billions of dollars worth of municipal bond deals. The allegations involve $26 billion of bond offerings from 2001 to 2007 in...
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FAQ: How the federal scholarship program would help Illinois students

Illinois students could soon benefit from scholarship money to help them find a tutor, attend ACT or SAT prep sessions, pay tuition, get special education services or assist with other academic needs. That will happen in Illinois only if Gov. J.B. Pritzker lets the state’s schoolchildren benefit from the Federal Scholarship Tax Credit program, established...

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Diana Graham

Process for unionizing non-state workers raises red flags

By Paul Kersey
06/19/2014

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

By Ted Dabrowski
05/02/2016