Illinois’ Significant Disinvestment in Higher Education
Release: January 27, 2017
Center for Tax and Budget Accountability Releases New Report on the Cost of Disinvestment in Higher Education
CHICAGO – Between 2000 and 2015, Illinois cut nearly $1.4 billion from General Fund appropriations to Higher Education—even before the ongoing budget crisis, which has cost Illinois colleges and universities over a billion addition dollars. That is one finding from Illinois’ Significant Disinvestment in Higher Education, a new report released today by the Center for Tax and Budget Accountability (CTBA).
Fact Sheet: The High Cost of Doing Nothing
Release: June 9, 2014
Because the Illinois legislature failed to act during the spring 2014 legislative session, both of the temporary state income tax increases that became law under the Taxpayer Accountability and Budget Stabilization Act of 2011 (TABSA) will begin to phase down halfway through Fiscal Year (FY) 2015, which begins on July 1, 2014. Under TABSA, the personal income tax rate will decline from 5 percent to 3.75 percent, and the corporate income tax rate will drop from 7 percent to 5.25 percent beginning on January 1, 2015.
Analysis of the Proposed FY2015 Illinois General Fund Budget
Release: May 19, 2014
This Report provides a detailed analysis of Governor Pat Quinn’s two very different proposals for the FY2015 General Fund budget—a Recommended Budget and a Doomsday Budget. This unconventional approach to the FY2015 budget was forced on the Governor because of the scheduled phase down of the temporary tax increases in the state’s personal and corporate income tax rates that became effective in 2011.
FY2015 Illinois Budget Proposals: In Context
Release: April 8, 2014