This article examines the causes and effects of Illinois’ ongoing pension crisis and the Illinois Senate’s proposed solution. Civic Federation President Laurence Msall notes the intent of Illinois’ pension protection clause was probably not to make it the only area of law not subject to correction by the Illinois General Assembly.
The following news items cover the release of the Institute for Illinois’ Fiscal Sustainability at the Civic Federation's State of Illinois FY2018 Budget Roadmap, which proposes a comprehensive multi-year plan to address the State’s ongoing financial crisis and budget impasse with painful but necessary spending limits and revenue enhancements. ----- Chicago Tribune: Morning Spin:…
(CHICAGO) – In a report released today, the Civic Federation’s Institute for Illinois’ Fiscal Sustainability proposes a comprehensive five-year plan that addresses the State’s ongoing financial crisis and budget impasse with painful but necessary spending limits and revenue enhancements. The full 57-page report is available here. While Illinois has gone more than 19 months without a…
Click here to read the full report. Prior to the release of the Governor’s annual budget recommendation, the Institute for Illinois’ Fiscal Sustainability at the Civic Federation releases an analysis of the State of Illinois’ fiscal condition. This report presents the Civic Federation’s multi-year plan to stabilize Illinois’ finances and addresses the State’s critical financial situation.…
In this segment, Civic Federation President Laurence Msall joined a Chicago Tonight panel to discuss Governor Rauner’s recent State of the State address and Illinois’ continued fiscal issues.
This article discusses a pension reform bill recently passed by the Illinois General Assembly aimed at shoring up Chicago’s municipal and laborer pension funds. Laurence Msall, President of the Civic Federation, remarks that the pension reforms are a step in the right direction but explains that more needs to be done to ensure the City’s ability to meet its long-term obligations.
The following are the five most read posts presented by the Civic Federation blog in 2016. These posts examine issues ranging from local government consolidation to pension funding reform. Cook County Electorate to Vote on Referendum to Merge the Recorder of Deeds with the County Clerk July 20, 2016 This post highlights an initiative long supported by the Civic Federation to merge the…
(CHICAGO) In an analysis released today, the Civic Federation announced its support for the Chicago Park District’s proposed FY2017 operating budget of $449.4 million. The budget continues to reduce the District’s reliance on fund balance to close its budget deficits and keeps the property tax levy relatively flat. The full 61-page analysis is here. As detailed in the analysis, the Federation…
The Civic Federation supports the Chicago Park District’s proposed FY2017 operating budget of $449.4 million because it continues to reduce the District’s reliance on fund balance to close its budget deficits and keeps the property tax levy relatively flat. At a time of increased pressure for local governments across Illinois, the Chicago Park District’s proposed FY2017 budget furthers the…
This article discusses the City of Chicago’s decision to extend its property tax rebate application deadline after only a small percentage of eligible City homeowners applied. Laurence Msall, President of the Civic Federation, remarks that the rebate program is a broad-brush exemption with modest financial benefit compared to the amount of effort it takes to apply.
