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Budget, Tax & Revenue Public services in Illinois, from education to public safety, are in trouble. The problem is not spending, Illinois is a low spending state ranking 42nd nationally, the trouble is the state’s revenue system was developed decades ago and cannot deal with the costs of funding public services in the 21st century. Illinois has a tax system so antiquated it does not grow with the economy and is one of the most unfair systems in the nation, placing a larger tax burden on low and middle-income residents. This means state funding for public services like education and public safety is unable to grow with inflation and is often cut from year to year.
The Center for Tax and Budget Accountability analyzes these budget, tax and revenue challenges facing Illinois to highlight fiscal policies that are both unsound and place an unfair burden on low and middle income residents. Additionally, CTBA identifies structural budget issues and possible solutions to ensure that essential state government services are adequately funded and that the state’s tax burden falls fairly upon all Illinoisans. CTBA also works with coalitions, government officials and elected representatives to promote fair fiscal policies that will benefit all residents of Illinois. Analysis & Reports CTBA analysis of the Enacted FY2012 Illinois budget, Updated October, 2011 CTBA released its Analysis of the Proposed Illinois FY2012Budget at its 10th Annual Fiscal Symposium on March 25, 2011. Key findings in CTBA’s FY2012 budget analysis include: • Detail how the tax increases passed in January averted a fiscal disaster in FY2012; • Identify over $388 million in cuts to human service programs; and • Reveal that 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. Click here for a copy of the full analysis.
Funding Our Future is a thorough analysis of the state’s long-term spending
patterns, budget problems and tax policy. This report also
includes an analysis of the two major gubernatorial candidates’
respective budget proposals. Funding Our Future has been
peer reviewed by independent Ph.D. economists that are
university-based, think tank-based, and working for the federal
General Accounting Office. Click on the link to read the full
report:
BY SUBJECT
State & County Budget Analysis
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