Illinois Budget
Released April 30, 2018
This report makes the case for a graduated rate state income tax in Illinois, and illustrates two possible rate structures that would accomplish each of three major objectives:
Released February 16, 2018
This week, Gov. Bruce Rauner gave his fiscal year (FY) 2019 budget address, revealing his revenue and expenditure proposals for the upcoming year. The governor’s proposal relies on $1.5 billion in cost reductions to balance the budget, including:
Released February 15, 2018
Governor Bruce Rauner introduced his proposed fiscal year 2019 budget on February 14.
Released October 10, 2017
On Thursday, August 31, 2017, the people of Illinois woke up in the state that had the worst—as in least equitable—K-12 public education funding formula in the country. That night they went to bed in the state that had the best.
Released October 10, 2017
The changes made to Illinois public pension systems in Public Act (PA) 100-0023 (introduced as Senate Bill 42), the Budget Implementation Act, or BIMP, passed on July 6, 2017, and include two primary elements. First, the BIMP creates a new Tier 3 level of benefits for public sector workers.
Released September 27, 2017
Illinois' fiscal year 2018 budget introduced major changes to the state's public pension systems in an attempt to grapple with Illinois' roughly $130 billion in unfunded liabilities. One of the most important aspects of these changes was a new package of benefits.
Released August 7, 2017
CTBA analysis shows that school districts around the state would see their funding threatened by Governor Bruce Rauner's amendatory veto of Senate Bill 1, the Evidence Based Model for School Funding Reform.
Released June 30, 2017
This report analyzes some of the major differences between SB1, the "Evidence-Based Funding for Student Success Act" that passed both chambers of the General Assembly; and SB1124, an alternative education funding reform bill sponsored by Senator Jason Barickman.
Released June 23, 2017
Every school district in Illinois except for the Chicago Public Schools has its teacher pension payments made by the state as a consolidated payment to the Teachers Retirement System.
Released May 15, 2017
The Economic Development for a Growing Economy ("EDGE") Tax Credit program has released more than $1.6 billion in credits to companies promising to create or retain jobs in Illinois since its creation in 1999.