Key Topics
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- Pensions
- Taxation
- Business
Our Public Finance Publications
The last time the state of Illinois contributed its rainy day fund
Gov. J.B. Pritzker recently made his annual budget address, in which he touted the improved fiscal condition of the state as well as roughly $1 billion in extra revenue. Some of the highlights include providing financial relief to taxpayers by freezing taxes on gasoline and groceries. This is expected to cost the state $135 million…
Understanding and Analyzing Municipal Real Estate Transfer Taxes
Overview There are three things that are certain in life: birth, death, and taxes. While we don’t like paying them, they play an important role in helping fund public services, like police and fire departments, schools, and garbage collection. They can hit us from all corners, but one area of taxation where people seem to…
Something stinks on Chicago’s Southwest Side
Midway Defective Windows Cause for Concern Residents of Chicago’s Midway area have been couping with the smell of odorous chemicals coming from the installation of soundproof windows procured by Chicago Department of Aviation (CDA). The issue began over ten years ago, when the city of Chicago created the Midway Residential Sound Insulation Program (RSIP) to…
Comparing Chicago’s budget size to other U.S. cities
Overview Mayor Lori Lightfoot recently unveiled her $16.7 billion budget proposal to the City Council for FY 2022. Having the third largest population in the Union (2.7 million), the city of Chicago’s budget is also one of the largest among U.S. municipalities. This piece will compare the size of Chicago’s General Fund budget to the…
The tax funding of Illinois college football programs
Introduction Big-time college football is big-time business. And with big-time business comes big-time money. The United States is undoubtedly an (American) football nation. When the leaves start to fall, we go giddy for the gridiron. While Chicago may be regarded as a pro-football town, college football is no exception. What is sometimes forgotten is that…
Over $16 billion in infrastructure help coming for Illinois
Congress has passed President Biden’s landmark $1 trillion infrastructure bill which will provide aid to states to help build bridges, maintain roads, construct broadband access, and much more. While it is still to be determined how much money Illinois will be exactly receiving, Senators Durbin and Duckworth have noted the following: It should also be…
Eek! Gas prices
One national issue that normally hits home locally is gas prices. We feel the effect of these prices daily: commuting to work, traveling out of state, and driving to the grocery store and restaurants. These high gas prices cut into what goods and services we would otherwise spend money on. Economics aside, it goes without…
Two credit rating agencies increase state’s bond rating. Third awaits
The following is a continuation of the piece The State’s Bond Ratings Over the Years. Read about it here. Prairie State Policy previously published a piece illustrating the state’s bond rating over the years. Good news was delivered the last few weeks as two of the major three credit rating agencies have upgraded the state of…
Illinois’ Improved Fiscal Outlook (Through Charts)
This past legislative session was regarded as a major improvement to the fiscal condition of the State of Illinois. Many media organizations reported that with the help of the much needed American Rescue Plan (ARP) funds, as well as enhanced economic activity from the pandemic’s end in sight, Illinois (oddly) seems to (finally) be on…
Plan established to help replace lead pipes
This is a follow-up to a post titled, “Municipalities will need to (eventually) invest in aging water lines.” You can read about it here. The Spring 2021 legislative session is rounding up and lawmakers have addressed the state’s lead pipe issue by passing legislation requiring water utilities to replace lead service lines while also creating a…
U.S. Treasury’s COVID debt rule is a bleak situation for Illinois
The following is an update from the piece How Federal Stimulus Money will be Allocated in Illinois, which was published March 15 and another piece published on April 17. A major wrench was thrown at the state earlier this month when the federal government announced that American Rescue Plan (ARP) money cannot be used to pay off…
A 10 Percent Reduction in Local Aid Would Be a Hit for Municipalities, But Problems Run Deeper
By: Christopher Ryan Crisanti The final two months of the General Assembly spring session normally shifts public conversation towards the upcoming fiscal year budget, with lawmakers needing to pass a budget based on the governor’s proposals. While economic activity seems to be picking up due to the COVID pandemic end in sight, state revenues have…
Prairie State Policy 