in january 2014, the non-partisan business group civic federation of chicago's assessment of the governor's budget projections estimated that the prescribed cut in income tax would yield decreased revenues of $1.4 billion in fy15 growing to $2.7 billion in fy16. in its own analysis, the federation projected that the loss of revenue "would dramatically destabilize illinois' already weak financial condition." they argued that the loss of revenue would be bad for illinois' businesses, due in part to the fact that the state still owed many private businesses money.