(The full content of this article is only available to the publication’s subscribers.) This article discusses the scheduled expiration of Cook County’s Alternative General Homestead Exemption or “7% cap” which was created in response to…
Governor Pat Quinn has proposed eliminating several corporate tax incentives to help pay down the State’s backlog of unpaid bills that is expected to total $7.5 billion at the end of the current fiscal year. The Governor’s proposal would…
(The full content of this article is only available to the publication’s subscribers.) This article profiles the City of Chicago’s economic vitality in relation to surrounding areas and focuses on population, retail activity, tax revenue…
This editorial discusses Illinois’ financial crisis in the context of the income tax increase enacted in 2011 and scheduled to partially rollback on January 1, 2015. It cites the Civic Federation’s…
This brief provides a compilation of selected consumer taxes, including rates and descriptions, in place in the City of Chicago as of January 1, 2013. It includes such taxes as the sales tax, gas tax, amusement tax, lease tax, hotel tax,…
This blog examines some of the long-term obligations of the City of Chicago and its overlapping local governments using a per capita indicator based on bonded debt and unfunded pension liabilities. Rating agencies and other financial…
State urgently needs long-term plan to address rising pension and Medicaid costs, loss of income tax revenues (CHICAGO) – An analysis released today by the Civic Federation’s Institute for Illinois’ Fiscal Sustainability shows the State…
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. The FY2014 Roadmap includes a…
This article discusses pension reform legislation introduced by State Representative Lou Lang. The…
In the past year, Chicago residents have experienced several increases in the taxes imposed on cigarette and tobacco purchases. The new rates are shown in the following chart and are described in more detail below. (Click to enlarge.)…
