This article explains how employers in some states, including the State of Illinois, must pay higher taxes as a result of their state not paying back loans made by the Federal government to fund unemployment programs. The State of Illinois is issuing bonds to pay back the $2 billion debt, but employers will not see lower taxes until 2012. The Civic Federation says issuing bonds is…
In a panel discussion, Civic Federation President Laurence Msall discusses the City of Chicago City Council’s approval of Mayor Rahm Emanuel’s first City budget.
This article discusses the challenges facing City of Chicago Mayor Rahm Emanuel in negotiations with the City’s unions. The Civic Federation says that Mayor Emanuel has made significant cuts and increased revenue and thus made a major dent in the structural deficit in the City’s budget.
The State of Illinois’ 44 regional school superintendents’ offices, which were slated for elimination in Governor Pat Quinn’s FY2012 budget recommendation, have been granted a reprieve—at least for one year. In presenting his proposed FY2012 budget to the General Assembly on February 16, 2011, the Governor stated that he was eliminating state funding for the offices in order to spend more in the…
This editorial discusses the lack of action so far on the part of State of Illinois legislators during the veto session to address issues in the State’s pension system and its backlog of overdue bills. It cites the Civic Federation’s estimation of the State’s obligation to the pension system, which is projected to increase rapidly over the next several years.
This article examines the City of Chicago’s issuance of bonds ahead of a vote on the City’s FY2012 budget proposal. The article also cites the Federation’s analysis of the proposal.
This editorial segment discusses cuts that could be made to the City of Chicago budget to fill a $635 million deficit. It mentions the Civic Federation’s support of the City’s FY2012 budget proposal because the proposal made significant cuts to address the deficit.
The Civic Federation's legislative priorities for 2012 include public pension reform, requiring the State of Illinois to develop and implement a capital improvement plan, dissolving the Illinois International Port District, creating a new governing board for the Cook County Forest Preserve District, requiring all counties to hold budget hearings and large counties to produce timely annual audits…
A proposed package of tax incentives currently being considered by the Illinois General Assembly includes eliminating tax relief known as “bonus depreciation” already provided to businesses for 2011 through a federal tax change that the State currently conforms to. Among other provisions, Senate Bill 397 provides tax credits to specific companies that have publicly stated they are considering…
The Chicago Transit Authority Board will vote on CTA President Forrest Claypool’s FY2012 Budget Recommendations on November 15, 2011. The proposed $1.2 billion operating budget closes a preliminary budget shortfall of approximately $277 million, which was driven by $81 million in expenditure increases and the loss of $196 million in one-time revenues used during FY2011. The CTA plans to close…
