Moody’s right, S&P wrong on Illinois budget
Moody’s right, S&P wrong on Illinois budget
Illinois’ bond rating may not be junk, but the state’s finances still are.
Understanding why the new budget fails Illinoisans
Understanding why the new budget fails Illinoisans
Tax hikes on struggling Illinoisans as the state is bordering on a recession, a lack of structural spending reforms, no true pension reform, $100 million in pork spending, and the continued threat of a junk credit rating are among the ways the new Illinois budget fails taxpayers.
After historic tax hike, the real pain has just begun
After historic tax hike, the real pain has just begun
The state will eat a 32 percent larger chunk out of most workers’ paychecks, retroactive to July 1.
Chicago home to costliest on-street parking in nation, according to report
Chicago home to costliest on-street parking in nation, according to report
High parking fees in the city only add to the heavy burden of taxes and fees Chicagoans face.
Illinois income tax increase now in effect
Illinois income tax increase now in effect
The Illinois Department of Revenue issued details on how to comply with the state’s increase income tax, signaling the reality of higher taxes for Illinoisans.
Rockford receives credit downgrade as pension debt grows
Rockford receives credit downgrade as pension debt grows
As pension debt mounts, Moody’s Investors Services has downgraded the city of Rockford to an A2 rating.
CPS borrows another $500M at sky-high interest rates
CPS borrows another $500M at sky-high interest rates
Chicago Public Schools has issued an additional $500 million in long-term high-interest bonds, following $387 million the district borrowed from JPMorgan in June.
New study ranks Illinois 2nd-worst in fiscal health
New study ranks Illinois 2nd-worst in fiscal health
New findings from the Mercatus Center highlight how Illinois’ reliance on debt and costly pension and other employment benefits have put the state on the wrong fiscal track.
Marion regulates short-term rentals before eclipse
Marion regulates short-term rentals before eclipse
Effective July 20, 2017, residents wishing to host visitors in their homes between one and thirty days must apply and pay $50 for a license. The city must inspect the property and deem it up to standards.
Millennials could be key to Illinois’ housing recovery – but they are fleeing the state
Millennials could be key to Illinois’ housing recovery – but they are fleeing the state
Illinois loses more millennial taxpayers and dependents to other states than any state except New York.
Illinois will gladly pay you on Tuesday
Illinois will gladly pay you on Tuesday
Illinois’ $21 billion in school debt pushes up property taxes
Illinois’ $21 billion in school debt pushes up property taxes
Illinois’ debt per student is the 11th highest of any state in the nation. It is almost 15 percent higher than the national average of $8,764.
State of Illinois loses $4 million in lottery revenue due to budget crisis
State of Illinois loses $4 million in lottery revenue due to budget crisis
That total comes from $2.4 million lost due to the absence of Powerball ticket sales and $1.4 million lost due to the absence of Mega Millions ticket sales.