Plan Uses Revenue from Increased Income Tax Rates on New Homeowners’ Grant (CHICAGO) – In a new report released today, the Civic Federation’s Institute for Illinois’ Fiscal Sustainability opposes Governor Quinn’s recommended budget for…
The Civic Federation opposes Governor Pat Quinn’s recommended budget for FY2015 because it uses revenue from extending the 2011 temporary income tax increase for new spending. The State’s fiscal crisis demands that any increased revenue be…
As part of the FY2015 budget recommendation for the State of Illinois, Governor Pat Quinn provided two separate five-year projections for both “…
The Civic Federation joined with the Federal Reserve Bank of Chicago on April 23, 2014 to co-host a conference on ways that municipalities in Illinois can avoid or resolve fiscal…
This article discusses Governor Quinn’s recent indication that he would consider increasing the share of State income taxes distributed to local governments if the 2011 income tax rates were made permanent. The Civic Federation recommended…
On April 8, 2014, the Illinois House of Representatives and Senate approved Senate Bill 1922,…
This segment discusses Governor Quinn’s opposition to the property tax component of Chicago’s recent pension reform plan for its…
This article discusses the City of Chicago’s plan to restore 90% funded levels to its Municipal and Laborers pension funds by 2054 through a combination of property tax increases, increased employee contributions and lower cost-of-living…
This article reports on a pension funding plan announced by the City of Chicago April 1 that would bring the Municipal and Laborers pension funds to a 90% funded level by 2054. Without reforms, both funds face insolvency within 9-17 years…
Chicago Mayor Rahm Emanuel unveiled a proposal to stabilize the City’s underfunded Municipal and Laborers pension funds on March 31. The 40-year plan includes successive property tax increases to provide additional pension funding coupled…
