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  • Public Opinion and Political Viability | Institute of Government and Public Affairs
    employees by contrast generate positive reactions However caution is always in order with polls Some opinions seem open to change For instance support for raising taxes on the rich falls when people are told what rates they currently pay on average Support for cutting spending on schools can rise when people are informed of present spending levels Unfamiliar proposals often generate negative reactions or partisan reactions if they are perceived as coming from only one party Generally the public understands that Illinois is in bad shape but many skeptical about solutions and tired of hearing endless discussion of crises Click here to read about public opinion and the political viability of budget tools Recent Content Let s change how we make state budgets Higher education is a smart investment for Illinois The Illinois Budget Policy Toolbox Webinar Series Toolbox Fundamentals The Illinois Budget Policy Toolbox Webinar Series IGPA is teaming up with U of I Extension Local Government Information and Education Network to host monthly webinars on topics from the Illinois Budget Policy Toolbox Illinois Economic Condition Illinois economy is struggling to recover from the recession A long term structural imbalance will only intensify the state s fiscal woes Why

    Original URL path: http://igpa.uillinois.edu/budget-toolbox/content/public-opinion-and-political-viability (2016-02-17)
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  • The case of the vanishing millionaire's tax | Institute of Government and Public Affairs
    of those same survey respondents when asked to estimate the federal income taxes paid by those making a million dollars a year gave answers at least 10 percent below the actual effective rate which is about 25 percent according to IRS data So the broad support for making the rich pay more rests partly on underestimation of how much they currently pay What sorts of average tax rates do Americans regard as fair In a February 2012 YouGov national survey respondents were asked to select fair income tax levels for hypothetical taxpayers with incomes ranging between 20 000 and 1 million About 80 percent of respondents chose fair tax rates for millionaires that were lower than the current average tax rate paid by those with that level of income Predictably responses varied by self reported ideology conservatives like lower rates than moderates who like lower rates than liberals Strikingly though only those who self identified as very liberal chose an average fair effective tax rate as high the current status quo for the millionaires In this sense most of the public regards the actual tax burden of the very wealthy as too high not too low Governor Quinn Madigan and Senate President John Cullerton have now committed to making permanent the previously temporary increase in the state s income tax to 5 percent The complexity of the tax code makes it a bit difficult to say exactly what overall income tax rates would have been paid by Illinois millionaires given current federal rates plus an 8 percent state rate But likely scenarios for the resulting tax burden on the very wealthy put it higher than the levels chosen as fair by many Democrats most independents and nearly all Republicans Of course Illinois remains in very bad fiscal shape To get

    Original URL path: http://igpa.uillinois.edu/budget-toolbox/content/case-vanishing-millionaires-tax (2016-02-17)
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  • Illinois needs better fiscal planning | Institute of Government and Public Affairs
    familiar So what should Illinois do to bring its budgetary process up to the national standard These five reforms would be a good start Long term forecasts for 10 years estimate how the historical trends of various revenues and expenditures relate to factors such as growth in personal income and demographics and project these trends into the future Without long term planning for fiscal sustainability big deficits can sneak up on policymakers Current services baseline projections of the cost of continuing a program in its existing form are needed to understand the cost of not changing the budget These projections account for inflation and anticipated changes in service demand allowing policymakers to see whether a proposed budget represents a spending increase or cut in real terms Consensus revenue forecasts endorsed by both branches of government are needed to take the politics out of this crucial aspect of budget making Currently in Illinois each branch of government through the Governor s Office of Management and Budget and the legislature s Commission on Government Forecasting and Accountability prepares its own revenue estimates This encourages political gamesmanship rather than accuracy Fiscal notes are statements that accompany a bill and detail the costs savings or revenues associated with bills the legislature is considering These force lawmakers to confront the fiscal implications of their legislative decisions Unlike in most states these are rarely used in the Illinois General Assembly Rainy day funds are cash reserves that can be used to stabilize a state s finances in an economic downturn Illinois has a Budget Stabilization Fund but its balance is less than 1 percent of the state s total budget In contrast the CBPP recommends that a state s rainy day reserves equal about 15 percent of its budget Faced with the daunting challenges that continue

    Original URL path: http://igpa.uillinois.edu/budget-toolbox/content/illinois-needs-better-fiscal-planning (2016-02-17)
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  • Jeffrey Brown | Institute of Government and Public Affairs
    a smart investment for Illinois The Illinois Budget Policy Toolbox Webinar Series Toolbox Fundamentals The Illinois Budget Policy Toolbox Webinar Series IGPA is teaming up with U of I Extension Local Government Information and Education Network to host monthly webinars on topics from the Illinois Budget Policy Toolbox Illinois Economic Condition Illinois economy is struggling to recover from the recession A long term structural imbalance will only intensify the state

    Original URL path: http://igpa.uillinois.edu/budget-toolbox/experts/jeffrey-brown (2016-02-17)
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  • Richard F. Dye | Institute of Government and Public Affairs
    for the state of Illinois Dye retired from Lake Forest College in 2007 after 24 years in the school s Department of Economics His administrative experience includes four years as chair of the Department of Economics and Business at Lake Forest College and a year as president of the Illinois Economic Association He has written on the impact of property tax classification on business activity voter preferences for the equalization of school property taxes earmarking revenues for specific public expenditures the growth and stability of different state revenue sources and the impact of stadiums and professional sports on local development Recent Content Let s change how we make state budgets Higher education is a smart investment for Illinois The Illinois Budget Policy Toolbox Webinar Series Toolbox Fundamentals The Illinois Budget Policy Toolbox Webinar Series IGPA is teaming up with U of I Extension Local Government Information and Education Network to host monthly webinars on topics from the Illinois Budget Policy Toolbox Illinois Economic Condition Illinois economy is struggling to recover from the recession A long term structural imbalance will only intensify the state s fiscal woes Why doing nothing is not a feasible option Doing nothing or muddling through comes

    Original URL path: http://igpa.uillinois.edu/budget-toolbox/experts/richard-f-dye (2016-02-17)
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  • Don Fullerton | Institute of Government and Public Affairs
    Fullerton joined IGPA in August 2008 He began his appointment as Gutsgell Professor in the Urbana Champaign s Department of Finance in 2008 after spending a year as visiting professor in the department Fullerton spent 14 years as Addison Baker Duncan Centennial Professor of Economics at the University of Texas He also served on the faculty at Carnegie Mellon University the University of Virginia and Princeton University He served in the Treasury Department from 1985 87 during debate on the Tax Reform Act of 1986 Recent Content Let s change how we make state budgets Higher education is a smart investment for Illinois The Illinois Budget Policy Toolbox Webinar Series Toolbox Fundamentals The Illinois Budget Policy Toolbox Webinar Series IGPA is teaming up with U of I Extension Local Government Information and Education Network to host monthly webinars on topics from the Illinois Budget Policy Toolbox Illinois Economic Condition Illinois economy is struggling to recover from the recession A long term structural imbalance will only intensify the state s fiscal woes Why doing nothing is not a feasible option Doing nothing or muddling through comes with great risk and long term consequences Competing Goals of Budget Reform The goals for

    Original URL path: http://igpa.uillinois.edu/budget-toolbox/experts/don-fullerton (2016-02-17)
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  • Brian J. Gaines | Institute of Government and Public Affairs
    change how we make state budgets Higher education is a smart investment for Illinois The Illinois Budget Policy Toolbox Webinar Series Toolbox Fundamentals The Illinois Budget Policy Toolbox Webinar Series IGPA is teaming up with U of I Extension Local Government Information and Education Network to host monthly webinars on topics from the Illinois Budget Policy Toolbox Illinois Economic Condition Illinois economy is struggling to recover from the recession A

    Original URL path: http://igpa.uillinois.edu/budget-toolbox/experts/brian-j-gaines (2016-02-17)
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  • J. Fred Giertz | Institute of Government and Public Affairs
    member of the Institute of Government and Public Affairs at the University of Illinois and professor in the UIUC Department of Economics since 1980 Giertz s major research interests are in the areas of public finance and regional economic development He specializes in state and local taxation and expenditure analysis and in regional economic development issues Since 2000 he has served as the Executive Director of the National Tax Association a 1 200 member organization of tax professionals located in Washington D C Recent Content Let s change how we make state budgets Higher education is a smart investment for Illinois The Illinois Budget Policy Toolbox Webinar Series Toolbox Fundamentals The Illinois Budget Policy Toolbox Webinar Series IGPA is teaming up with U of I Extension Local Government Information and Education Network to host monthly webinars on topics from the Illinois Budget Policy Toolbox Illinois Economic Condition Illinois economy is struggling to recover from the recession A long term structural imbalance will only intensify the state s fiscal woes Why doing nothing is not a feasible option Doing nothing or muddling through comes with great risk and long term consequences Competing Goals of Budget Reform The goals for good budget

    Original URL path: http://igpa.uillinois.edu/budget-toolbox/experts/j-fred-giertz (2016-02-17)
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