On March 22, two State Senate committees heard testimony on Illinois’ fiscal crisis. The not surprising message of the nearly three-hour hearing: the State’s budget problems have built up over many years, driven largely by rising pension…
This segment discusses a recent Illinois Senate Appropriations Committee hearing and how the State of Illinois has gone without a budget for more than 20 months. During his testimony at the hearing, Civic Federation President Laurence…
This article discusses a recent Illinois Senate Appropriations Committee hearing where legislators heard testimony regarding the State’s continued spending far in excess of its known revenues due to the absence of a budget. During his…
This segment discusses how nearly eight years after the City’s failed Olympic bid, Chicago taxpayers are still paying for the unused Michael Reese site. Civic Federation President Laurence Msall remarks that the site is the worst financial…
In addition to many other obstacles to achieving a balanced budget, Illinois now faces another setback this week, this time in the form of under-performing revenues. A…
Chicago Public Schools (CPS) recently adopted its second amended budget of the 2017 fiscal year in an effort to balance its budget and close a $215.2 million hole before its fiscal year ends on June 30, 2017. Chicago Public Schools…
This article discusses the $4.25 million in savings generated by the City of Chicago’s second refinancing of the loan for the site of the former Michael Reese Hospital. Laurence Msall, President of the Civic Federation, remarks that it’s…
As Illinois endured its 20th month without a complete budget, Governor Bruce Rauner proposed a financial plan for the upcoming fiscal year with a significant operating deficit and no details on how to address the State’s multi-billion…
This segment discusses the possible sale of the State of Illinois’ James R. Thompson Center. Laurence Msall, President of the Civic Federation, says that the sale of the building could be a positive development for the State but also…
The following news items cover the release of the Institute for Illinois’ Fiscal Sustainability at the Civic Federation's State of Illinois FY2018…
