The Fiscal State of Illinois
October 14, 2012 | Publication | Improving the Nation's Fiscal Future, Policy Research
A report from the State Budget Crisis Task Force explores the budget crisis in Illinois, identifying major challenges that reflect the state’s history of fiscal decision-making and budgetary practices that favor short-term goals over long-term growth and stability. These include unfunded pension liability and one of the highest debt per capita of any state. The MacArthur-supported Illinois Report details threats to Illinois’ public services and fiscal sustainability as well as actions that can be taken to address those issues, including adopting a non-political revenue forecasting process, pension reforms, and tax reforms.