The Illinois General Assembly approved a final State budget of $43.57 billion, 0.03% more than proposed by the Governor. The Governor and legislative leaders approved a 2-year pension funding “holiday” of $2.3 billion to help balance this…
The Civic Federation supports HB 1663 as an important first step toward resolving the CTA's financial crisis, but continues to call for a CTA fare increase and supplemental state funding to bridge the agency's immediate deficit and avert…
The Civic Federation strongly supported the Governor's proposed pension reforms and urged the General Assembly to adopt the pension reforms as well as a moratorium on further benefit enhancements.
The Civic Federation strongly supported the Governor's proposed pension reforms and the Pay as You Go funding proposal . It urged the General Assembly to adopt the pension reforms as well as a moratorium on further benefit enhancements.
Civic Federation President Laurence Msall is a member of the Governor's Pension Commission and supported this report. The Report recommends changes to pension plan provisions and pension funding practices to address the underfunding of…
The Civic Federation's legislative priorities for 2005 include the Suburban Cook County Tuberculosis Sanitarium District, property tax exemptions and assessment reform, public employee pensions, the Regional Transportation Authority Act,…
This report analyzes the potential financial impact if Illinois were to come into compliance with the Streamlined Sales Tax Agreement. It projects both potential revenue increases from taxing internet and other remote sales as well as the…
The Civic Federation supported the Tollway's plan to rebuild the toll road system and construct an I-355 south extension by raising tolls for trucks and non-I-PASS users. Unlike past proposals, this plan uses a mix of bond and "pay-as-you…
This issue brief provides a "plain English" description of how GASB 34 has increased transparency in government financial reporting. It is illustrated with examples from the City of Chicago's FY2002 CAFR, as well as State of Illinois and…
The Civic Federation supported the rejection of any broad-based tax increases but opposed the proposal to reduce pension funding by $310 million and extend payment of that amount over a 41-year period.
