According to the governor's office, there has been a $1.8 billion aggregate increase in EBF funding during the Pritzker administration which started in 2019. The State Journal Register cites to CTBA’s recent report supporting a funding increase to $500 million per fiscal year to hasten the timeline to fully fund schools from fiscal year 2034 up to fiscal year 2030.
Illinois public school districts benefited from an uptick in a local tax on corporate profits in recent years.
The 21st Show takes a look at the new state budget. Host Brian Mackey is joined by Ralph Martire from the Center for Tax and Budget Accountability and David Merriman, a professor in the Department of Public Administration at the University of Illinois at Chicago. Listen to the program HERE
Thousands of qualifying suburban parents could receive an income tax break next year due to the state’s first child tax credit included in the upcoming state budget.
The funding comes from increased tax rates on gambling, state officials said. The Center for Tax and Budget Accountability, a Chicago-based nonpartisan government finance research group, has been advocating for a statewide child tax credit tied to the earned income tax credit since at least 2022.
Democrat and Republican lawmakers mostly had opposing views of the fiscal year 2025 budget that Gov. Pritzker just signed. Meanwhile, the real problem with state finances is a structural deficit caused by tax policy that doesn’t fit a modern economy. Ralph Martire’s column breaks down the numbers.
Ralph Martire’s column examines the FY 2025 Illinois state budget.
CTBA’s Ralph Martire is quoted in the state budget section
The Local Government Distributive Fund may sound dry, but local leaders say it plays a crucial role in keeping their cities, towns and villages afloat. GUESTS: Jerry Bennett, Palos Hills mayor, president of the Southwest Conference of Mayors and Ralph Martire, executive director, Center for Tax and Budget Accountability talk with Sasha-Ann Simons.
Center for Budget and Tax Accountability EBF report is cited which indicates paying the minimum $300 million would take the state until fiscal year 2034 to fully fund public schools in the state. Instead, it recommends upping that investment to $500 million per fiscal year which would move that timeline up to FY 2030.
A new report from the Illinois General Assembly’s Commission on Government Forecasting and Accountability estimates the state will receive nearly $31.4 billion in state income tax revenue in the next fiscal year that begins in July. CTBA’s Ralph Martire is quoted in the article.