CHALLENGES –Credit deterioration among key municipalities served –Growing unfunded pension liabilities combined with large capital needs that are likely to require sizeable additional leverage resulting in reduced coverage, and the low likelihood that pledged revenues will be expanded –State payment backlog that, despite recent improvement, will likely persist via Moody’s downgrades Chicago Transit Authority (IL) sales tax revenue bonds to A1; outlook revised to negative.

“Illinois illustrates how local taxing bodies flourish across the U.S., whether urban or rural, Republican or Democrat. The governments duplicate services and burn tax dollars at the same time states slash money for education and Washington cuts discretionary spending.” via Reagan Revolution Misses Tax Fiefdoms Flourishing in U.S. – Bloomberg.

warehouse.illinoiscomptroller.com via Topinka Launches Online Portal Detailing Local Government Finances (UPDATED) | Progress Illinois. The site is linked here. We will be looking at it for anything interesting.