Tax and Budget
Analysis of the Enacted Illinois FY2012 Budget
Release: October 1, 2011
This Report provides an analysis of the FY2012 Enacted General Fund budget. Key findings are: Detail on how the tax increases passed in January averted a fiscal disaster in FY2012; over $388 million in cuts to human service programs; and despite the recent tax increases and spending cuts, the FY2012 budget proposes over $1 billion in spending for which there is no revenue, and is subject to an accumulated deficit of over $7 billion after accounting for unpaid bills left over from FY2011.
Written Summary of Corporate Income Tax Expenditure Testimony
Release: July 19, 2011
The written summary of Ralph Martire's testimony on corporate income tax expenditures to the joint House and Senate revenue committee in August 2011.
Issue Brief: The Taxpayer Accountability and Budget Stabilization Act (P.A. 96-1496)
Release: February 9, 2011
This Issue Brief provides an overview of the Taxpayer Accountability and Budget Stabilization Act (P.A. 96-1496), which took effect in fiscal year 2011.
Initial Analysis of Recent Tax Increases and Spending Caps Implemented Under P.A. 96-1496
Release: January 26, 2011
This is a presentation of CTBA's analysis of The Taxpayer Accountability and Budget Stabilization Act (P.A. 96-1496), which temporarily increased the income tax rates in Illinois and implement spending caps of the General Fund budget.
Fact Sheet: HJRCA61 Constitutional Spending Limits
Release: January 4, 2011
This Fact Sheet provides an overview of House Joint Resolution Constitutional Amendment (HJRCA) 61. HJRCA 61 was a proposed Constitutional Amendment that would limit growth in appropriations for General Fund spending to the average annual percentage increase in state per capita personal income over the most recent five calendar years.