In its analysis of the State of Illinois FY2025 Proposed Budget, the Civic Federation finds the State has reached a more stable financial condition due to higher-than-expected revenue growth and prudent fiscal management. With revenue growth slowing, however, the Federation recommends the State develop a plan to optimize its spending and modernize its tax structure.CHICAGO — The Civic Federation…
In its analysis of the State of Illinois FY2025 Proposed Budget, the Civic Federation finds the State has reached a more stable financial condition due to higher-than-expected revenue growth and prudent fiscal management. With revenue growth slowing, however, the Federation recommends the State develop a plan to optimize its spending and modernize its tax structure.CHICAGO — The Civic Federation…
The State of Illinois has made significant progress on stabilizing its finances, ending each of the past four fiscal years with budget surpluses. Those surpluses were driven by several factors: strong revenue performance via a strong economic recovery from COVID-19 and the State’s enactment of budgets in better structural balance than past practice. The State has also prioritized payment of…
The Civic Federation today released a position paper calling on the Illinois General Assembly to pursue foundational structural reform of Northeastern Illinois’ mass transit systems—the Chicago Transit Authority (CTA), Metra, Pace and the Regional Transit Authority (RTA)—by centralizing the service boards and operations under a single, duly empowered and resourced regional transit agency. Doing…
CHICAGO — The Civic Federation today released a position paper calling on the Illinois General Assembly to pursue foundational structural reform of Northeastern Illinois’ mass transit systems—the Chicago Transit Authority (CTA), Metra, Pace and the Regional Transit Authority (RTA)—by centralizing the service boards and operations under a single, duly empowered and resourced regional transit…
The Civic Federation today releases a report calling for the consolidation of the Chicago Transit Authority, Metra, Pace and the Regional Transit Authority into a single regional transit agency. The Federation urges linking transit governance reform with funding.
On November 15, 2023, the Governor’s Office of Management and Budget (GOMB) released the Illinois Economic and Fiscal Policy Report. The report describes updates to the …
The following are summaries of the five most-read posts presented on the Civic Federation’s blog in 2023, listed here in chronological order. The posts examine issues related to Illinois taxes and debt, Tier 2 Benefits, the SAFE-T Act, and the tragic passing of Civic Federation President Laurence Msall.
Federal pandemic assistance provided to states through the Coronavirus Aid, Relief and Economic Security (CARES) Act and American Rescue Plan Act (ARPA) contributed to budget surpluses for many states, which were used for a mix of one-time investments, ongoing commitments and reserves. These surpluses, however, were for the most part a reflection of temporary factors that are dissipating. Since…
Policy Brief: Tier 2 Pensions and Safe Harbor ExplainedThe Civic Federation partnered with the Civic Committee of the Commercial Club of Chicago to draft this policy brief to explain Tier 2 pensions in Illinois and the Safe Harbor issue.
