The working group formed by Mayor Brandon Johnson to tackle Chicago’s acutely underfunded pensions is set to meet for the first time this week to confront one of the major fiscal challenges facing Chicago’s new leader.
A trio of budget ordinances backed by progressive aldermen failed to advance Monday, as a fiscal watchdog warned that Mayor Lori Lightfoot’s plan to borrow $15 million to avoid layoffs and refinance an additional $1.7 billion was potentially perilous.
Stern warnings on state budget prospects from a nonpartisan fiscal watchdog.
Students within the City Colleges of Chicago won’t see any tuition hike this fall as the state’s largest community college district works through its first full budget in more than two years.
The political inertia that’s left Illinois without a budget can’t continue, according to a report released Tuesday by the non-partisan Civic Federation.
Can the city and Chicago Public Schools get on the road to fiscal health without bankruptcy? Lessons from other cities.
The state of Illinois will not get out of its budget hole without a significant income tax hike, according to a new report issued by the Civic Federation, a fiscal watchdog group.
The day before Chicago Public Schools board members are set to vote on the district’s budget for fiscal year 2017, some analysts are expressing concerns.
Illinois Comptroller Leslie Munger tightens state lawmakers' belts, hoping to force a budget deal. Will that work to break the deadlock?
New taxes – and lots of them. That's what Illinois will need to dig out of its current fiscal mess, according to a new report from the Civic Federation.
“Unachievable.” That's what fiscal watchdog group The Civic Federation calls Gov. Bruce Rauner's proposed 2016 fiscal budget in a new report released today. And the report comes a day after Rauner gave an unprecedented speech to the Chicago City Council, saying city officials shouldn't expect a bail out from the state. Tonight we talk with a panel of experts about what this means for the city and the state.
Illinois is one of only three states that does not tax retirement income. That cost the state $2.2 billion in FY 2013, and along with other tax breaks the total revenue the state is foregoing is close to $9 billion. Is it time to reassess and end at least some of these tax breaks? Laurence Msall, president of the Civic Federation, is just back from Springfield and joins us to share his thoughts.
Budget & Jackie Robinson West Lawyer
We share what you had to say about Gov. Rauner's budget address, the Civic Federation's five-year budget roadmap, and our interview with Victor Henderson, the attorney representing the Jackie Robinson West Little League, in tonight's viewer feedback.
With just two days until Gov. Bruce Rauner delivers his first budget address, analysts are debating how best to tackle Illinois’ massive budget deficit. The Institute for Illinois' Fiscal Sustainability at the Civic Federation has released a five-year state budget roadmap that it says will stabilize Illinois while protecting important government services.
The Institute for Illinois' Fiscal Sustainability at the Civic Federation has released a five-year state budget roadmap that it says will stabilize Illinois while protecting important government services. The group says its plan will eliminate the state's unpaid bills by Fiscal Year 2020 and make sure state budgets are balanced.
Just weeks before Gov. Pat Quinn is set to make his budget address, government watchdog group The Civic Federation releases a proposal it says will balance the state’s budget. The plan would pay down the state’s backlog, but would impose a tax on pension and social security income. Civic Federation President Laurence Msall and State Director for AARP Illinois Bob Gallo discuss how the proposal could affect retirees. Read the full report.