Property-tax-for-pensions plan would pummel Illinois homeowners

By Orphe Divounguy, Bryce Hill, Joe Tabor

05/25/2018

With one proposal to pay off Illinois’ pension debt asking the typical homeowner to pay more than $1,900 in additional property taxes for the next 30 years, the stakes for pension reform have never been clearer.

Proposal: Make Illinois property taxes highest in the nation to pay state pension debts

By Austin Berg

05/16/2018

A proposal to levy a statewide 1 percent residential property tax would vault Illinoisans’ property tax burden to the highest of all 50 states.

TAGS: Federal Reserve, municipal pensions, pensions, property taxes, taxes

Cap spending now: Illinois taxpayers need a responsible budget this year

By Adam Schuster

05/04/2018

Lawmakers should voluntarily adopt a spending cap to give taxpayers the certainty they deserve.

TAGS: balanced budget requirement, bonds, budget, COGFA: Commission on Government Forecasting and Accountability, credit rating, ILGA: Illinois General Assembly, Paul Simon Public Policy Institute, spending, spending cap, taxes

Will Illinois pass a budget this year?

By Adam Schuster

04/20/2018

History shows lawmakers prefer to avoid tough but necessary choices.

TAGS: balanced budget requirement, budget, credit rating, debt, income tax, Mike Madigan, progressive income tax, spending, spending cap, taxes

Happy birthday, Mike Madigan

By Austin Berg

04/19/2018

What do you get a man who has everything?

TAGS: Mike Madigan

Tax Day: Where do Illinoisans’ state tax dollars go?

By Adam Schuster

04/17/2018

Pensions and employee health insurance costs consumed nearly a quarter of Illinois’ fiscal year 2018 budget.

TAGS: education, Health and Human Services, health insurance, higher education, Medicaid, public safety, taxes

Illinois bonds once again rated just above junk

By Adam Schuster

04/10/2018

One rating agency cited Illinois’ “persistent crisis-like budget environment” as explanation for the state’s near-junk credit. A spending cap constitutional amendment and pension reform could go a long way toward putting the state on a healthier fiscal path.

TAGS: bonds, credit rating, Moody's Investor Service

City of Springfield passes unbalanced budget despite bevy of new tax hikes

By Vincent Caruso

02/23/2018

The city's budget for fiscal year 2019 was accompanied by increases in sales and telecom taxes. But local officials still anticipate a deficit.

TAGS: budget, credit rating, property taxes, sales tax, Springfield

Illinois’ economy continues to fall behind other states, according to fiscal forecast

By Vincent Caruso

02/16/2018

The worst years of the Great Recession are in the rear view. But if the latest gloomy fiscal forecast is any indication, Illinois' persistent policy mistakes will drag down its economic performance well into the future.

TAGS: COGFA: Commission on Government Forecasting and Accountability, economy, jobs, outmigration, unemployment

Budget Solutions 2019: The responsible budget for Illinois

By Orphe Divounguy, Bryce Hill, Joe Tabor

02/06/2018

Even after a 32 percent income tax hike, the Illinois General Assembly passed a state budget in 2017 that will generate an estimated $1.5 billion deficit in fiscal year 2018. That deficit is projected to grow to $2.15 billion in fiscal year 2019, according to the Governor’s Office of Management and Budget, or GOMB. The...

Moody's Ratings

Property-tax-for-pensions plan would pummel Illinois homeowners

Proposal: Make Illinois property taxes highest in the nation to pay state pension debts

Cap spending now: Illinois taxpayers need a responsible budget this year

Will Illinois pass a budget this year?

Happy birthday, Mike Madigan

Tax Day: Where do Illinoisans’ state tax dollars go?

Illinois bonds once again rated just above junk

City of Springfield passes unbalanced budget despite bevy of new tax hikes

Illinois’ economy continues to fall behind other states, according to fiscal forecast

Budget Solutions 2019: The responsible budget for Illinois

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