Reports

Analysis of Illinois’ FY2020 Enacted General Fund Budget

Release: October 31, 2019

In his first year in office, Governor J. B. Pritzker signed a General Fund budget that the General Assembly passed into law — something it took his predecessor four years to accomplish. And while both the General Fund budget for fiscal year (“FY”) 2020 and the Governor are new, the fiscal problems which continue to afflict the General Fund are not. In fact, these problems are both longstanding and structural.

Governor Rauner's FY2019 General Fund Budget Proposal Neither Balances Nor Addresses Long-Term Structural Fiscal Issues

Release: May 24, 2018

Fiscal Year (FY) 2019 marks the fourth General Fund Budget proposed by Governor Bruce Rauner. For the first two years of Governor Rauner’s administration, FY2016 and FY2017, the state went without a full General Fund Budget. That gave Illinois the dubious honor of going the longest that any state in the country had ever gone without a budget.  This budget impasse led to an explosion in the state’s deficit under Governor Rauner’s watch. The state’s backlog of bills was $5.97 billion on July 1, 2015, when the impasse began.

Cutting Taxes for the Middle Class and Shrinking the Deficit: Moving to a Graduated State Income Tax in Illinois

Release: 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:

It Is All About Revenue: A Common Sense Solution for Illinois’ Fiscal Solvency

Release: September 9, 2015

This Report offers a solution to Illinois' longstanding fiscal shortcomings. There are a number of common sense, data-driven initiatives that will modernize the tax code—and still keep Illinois relatively low tax. The Report details how changes to Illinois' tax policy, primarily to its income and sales taxes, and re-amortizing its pension debt can completely eliminate its structural deficit.

Issue Brief: The Pending FY2016 Fiscal Cliff

Release: December 22, 2014

CTBA's issue brief, The Pending FY2016 Fiscal Cliff details the significant—potentially over $12 billion— fiscal shortfall facing the next General Assembly and Governor-elect Bruce Rauner as they work to craft a General Fund budget for Fiscal Year 2016.

Pages