This article discusses the Chicago City Council authorizing up to $200 million of bonds to help pay termination fees to exit swaps linked to its water debt. Civic Federation President Laurence Msall noted that, while this helps the city…
This article reports on payments made to Chicago's police and fire pension funds using $220 million in short-term borrowing. Laurence Msall, President of the Civic Federation, called the borrowing an unfortunate, expensive, yet…
The Civic Federation is proud to partner with the Federal Reserve Bank of Chicago to co-host "Medicaid Expansion and the Affordable Care Act: A Fiscal Checkup,” The event will take place on Monday, April 4, 8 a.m.-1:30 p.m. in the…
This article examines the costs of high pensions paid to former school district administrators in Illinois. Laurence Msall, President of the Civic Federation, notes that these are a prime example of why the State continues to need…
This article reports on a real estate investment made on behalf of five of Chicago’s public pension plans, which resulted in significant losses for those plans. Civic Federation President Laurence Msall comments on the lost investment and…
This annual brief provides a compilation of selected consumer taxes, including rates and descriptions, in place in the City of Chicago as of May 1, 2016. It includes such taxes as the sales tax, amusement tax, lease tax, hotel tax,…
This article reports on the Chicago Transit Authority’s costly pensions and associated fees for investment, actuarial and legal services. Laurence Msall, President of the Civic Federation, discusses the disadvantages of the CTA’s current…
On January 25, 2016, the office of the Cook County Treasurer mailed the first installment of the property tax bill to all homeowners in Cook County which is due on March 1, 2016. The bill lists all taxing districts to which property taxes…
Based on available market data, the State of Illinois paid approximately $40 million more for the $480 million of new bonds it sold in January than it would have before its bond ratings were downgraded at the end of last year. As…
