Moving Forward: Illinois' Evidence Based School Funding Formula Can Reverse Decades of Inequity Created by the Foundation Formula It Replaced
Release: October 10, 2018
After just one year of implementation, Illinois’ new school funding formula – the Evidence Based Funding for Student Success Act, or EBF – holds out the promise of closing Illinois’ drastic funding and achievement gaps both between schools in property-rich and property-poor districts, as well as between schools in predominantly white communities and schools that serve predominantly students of color.
More of the Same: The FY2019 General Fund Budget Fails to Address Illinois' Long-Term Structural Fiscal Issues
Release: October 2, 2018
The FY2019 Illinois General Fund budget is the first budget agreed upon by both the General Assembly and the Governor in Illinois since FY2015. Among the highlights of the budget is that the state will, fo rthe second year ina row, increase funding for K-12 Education by at least $300 million over prior year levels, as required by teh new Evidence-Based Funding for Student Success Act.
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.
Addressing Illinois’ Pension Debt Crisis With Reamortization
Release: May 21, 2018
Illinois' five state pension systems face a debt crisis after years of intentional borrowing from state contributions. The crisis is compounded by a backloaded repayment plan that calls for unrealistic, unsustainable state contributions in future years, putting funding for crucial public services at risk. Because the crisis is about debt, rather than benefits being earned by current and future employees, attempts to solve the problem through benefit cuts have failed.
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: