by Kristina Rasmussen “Oregon Raises Taxes, But Budget Situation Worsens.” There’s a lesson here for tax hikers in Illinois. Amber Gunn has the story in the August edition of Budget & Tax News: Oregon voters in January approved significant personal and corporate income tax hikes. The predicted increases in revenue have failed to materialize, however, and now the state...

by Will Compernolle The State of Illinois spent $6,795 on the “printing of pens” in fiscal year 2009 by Global Printing and Graphics. Between fiscal years 2008 and 2009, the State spent $9,294 on products and services from Global Printing and Graphics, including printing letterhead and printing of business cards. As we have blogged about before, the...

by Kate Piercy Despite Illinois’s dire pension system, which includes police, fire and public-sector employees, boosting public employee salaries shortly before retirement in order to put them on a path to a bigger and better retirement package has turned into common practice among government in Illinois. Illinois has the most underfunded pension system in the nation,...

by Brian Costin On Wednesday, the State of Illinois resorted to more borrowing and sold $900 Million in Build America Bonds to support public works projects. Unfortunately, due to Illinois rapidly deteriorating credit rating taxpayers are paying a premium. On face, the bonds will pay investors an average interest rate of 6.96 percent. Bad enough but...

Illinois is facing a budget crisis. The state’s revenue collections are low, and dropping. Yet we’ve continued to spend more than we’ve taken in from taxes – in 2006, in 2007, in 2008, in 2009, in 2010, and yes, in 2011. Some of the revenue shortfall can be blamed on falling collections due to a...

by Amanda Griffin-Johnson The U.S. Department of Transportation estimates that the states have spent a total of around $5 million of stimulus funds on signs “touting ‘The American Reinvestment and Recovery Act’ and reminding passers-by that the program is ‘Putting America Back to Work.’” ABC News reports that “the state of Illinois has spent $650,000 on about 950...