This article examines the $850 million in interest costs that the Chicago Public Schools will have to pay on a recent $500 million loan. Civic Federation President Laurence Msall explains that the plan is an expensive way of operating…
In this segment, Civic Federation President Laurence Msall discusses key aspects of the State of Illinois’ FY2018 budget and the challenges the State still faces. He says the most important aspect of Illinois having a budget is that it…
Higher education was one of the areas hit hardest by the State of Illinois’ two-year budget impasse. This blog post examines how higher education fares under the…
On July 1, 2017, both chambers of the Illinois General Assembly voted to override the Governor’s veto of…
The State of Illinois ended its two-year budget impasse on July 6, 2017, enacting a $36.1 billion spending plan with about $5 billion in tax increases. To break the logjam, the General Assembly narrowly overrode Governor Bruce Rauner’s…
In the following news pieces, Civic Federation President Laurence Msall discusses details of the State of Illinois’ FY2018 budget plan and the impact the budget will have on the State’s finances. He says that the enactment of the State’s…
This segment discusses whether Chicago is on the same financial path as Detroit and whether bankruptcy is an option for the City. Laurence Msall, President of the Civic Federation, says that Chicago has a lot of great assets and strong…
This article discusses the high interest rate that the Chicago Public Schools will have to pay on $387 million in loans that the District is using as a short-term fix for its financial crisis. Civic Federation President Laurence Msall…
As the State of Illinois approaches two full years without enacting a comprehensive state budget, local governments have been forced to make difficult financial decisions to continue operating during these uncertain times. City Colleges…
This segment discusses how the State of Illinois could lose the Powerball and Mega Millions lottery games if the State does not reach a budget agreement by the end of this month. Civic Federation President Laurence Msall makes the point…
