[Comments now open]
* Press release…
Despite making substantial progress on Illinois’ fiscal challenges in Fiscal Year 2020, the ongoing coronavirus pandemic has resulted in unexpected and dramatic revenue losses, and Illinois will also continue to face significant financial challenges until it finds a long-term solution to its long standing structural deficit, the annual Economic and Fiscal Policy Report from the Governor’s Office of Management and Budget concludes.
As a result of these recent challenges and with the option for a graduated income tax now off the table, the Governor’s Office of Management and Budget is projecting sizeable deficits in the General Funds budget for fiscal years 2022 through 2026. Without changes to the current trajectory of the state’s finances, year-end accounts payable will continue to grow year by year, the report states.
And then it goes on.
Click here for the full report.
* We’ll go through it Monday, but here’s the actual projection…
So, the backlog is projected to equal 69 percent of total expenditures by FY26.
Great.
Also, nothing like dropping horrific fiscal news on a late Friday afternoon. Thanks, GOMB.
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* The governor announced today that he would be extending the state’s eviction moratorium by another 30 days…
But landlords and property owners are a crucial part of Illinois housing cycle, just as much as renters, and they deserve protection, too.
So with input from smaller landlords and property owners, this new moratorium will ensure that the rents are paid by tenants who may have been taking advantage of the eviction moratorium but are in fact able to pay to make their monthly rent payments in line with the CDC eviction ban on renters, who have earned no more than $99,000 in annual income or $198,000 as joint filers for this calendar year are covered under this extension.
Renters who are unable to pay will be required to submit a declaration form to their landlord certifying that they are unable to pay their rent due to the substantial loss of income or an increase in out of pocket expenses stemming from the pandemic. This form will be available on the Illinois Housing Development Authority website for easy access.
Please pardon all transcription errors.
*** UPDATE *** Press release…
The following statement can be attributed to Michael Mini, executive vice president of the Chicagoland Apartment Association:
“We are grateful that Governor Pritzker has fine-tuned his residential eviction moratorium rules so landlords are not taken advantage of by tenants who withhold rent payments without cause or demonstrated financial losses due to COVID-19. In tens of thousands of instances, landlords are working with tenants in offering extended grace periods and manageable payment plans. The amended eviction moratorium announced today by Governor Pritzker provides for greater accountability by non-paying bad actors who have refused to communicate with their landlords to demonstrate their need for assistance, enabling landlords to better assist tenants truly in need.
The pandemic indeed threatens the financial viability of both tenants and landlords across Illinois as we all face unprecedented pressures. We need more federal funding to ensure renters experiencing hardships can keep paying their rent and property owners can cover their operating costs and maintain safe living conditions for their residents. We join the call in urging members of the Illinois delegation to proactively push for another federal government relief package.”
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* Sun-Times…
An obscure but crucial figure in the feds’ years-long investigation of public corruption in Illinois pleaded guilty to an unrelated fraud scheme Friday, six years after he secretly recorded House Speaker Michael Madigan with hopes of future leniency from a judge.
See Y. Wong admitted he scammed a bank and pleaded guilty by video to wire fraud. He did so four months after a federal subpoena sent to Madigan’s office indicated Wong’s undercover work could still be relevant to the probe roiling state politics.
In that subpoena — delivered the day the feds charged ComEd in a bribery scheme that implicated Madigan — the feds sought documents related to Chinatown properties that appear to be part of the recorded conversation Wong had in August 2014 with Madigan and then-Ald. Daniel Solis (25th).
Madigan has not been criminally charged and has denied wrongdoing. Solis later helped the feds build a racketeering case against Ald. Edward M. Burke (14th), who was first criminally charged Jan. 2, 2019. Burke’s lawyers say Solis struck a so-called deferred-prosecution agreement with the feds the next day.
Federal prosecutors first charged Wong in March, days before the coronavirus pandemic took hold in Chicago and upended the federal court system. Their seven-page charging document, known as an information, first revealed the scam that apparently prompted Wong to cooperate. It revolved around the Canal Crossing condominium development in Chinatown.
*** UPDATE *** WBEZ…
Lawyers suing scandal-scarred Commonwealth Edison on behalf of the power company’s customers are accusing a consumer-advocacy group of serving as “ComEd’s lapdog,” court records show.
But the Citizens Utility Board says that is not fair — and CUB has now taken legal action itself to try to win back money for the roughly 4 million homes and businesses served by ComEd across northern Illinois.
State officials created CUB 37 years ago to act as an independent watchdog for customers of the power company and other state-regulated utilities.
Lawyers in a class-action suit in Cook County Circuit Court allege CUB instead is trying to shield ComEd, which has admitted to bribing Illinois politicians as it won electricity-rate increases and other lucrative legislation in Springfield during the past decade.
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Question of the day
Friday, Nov 13, 2020 - Posted by Rich Miller
* The Illinois Farm Bureau was quite active in the battle against the graduated income tax…
Illinois Farm Bureau President Richard Guebert Jr. described how Illinois farmers and rural residents will suffer if voters approve a state constitutional amendment in November.
During a virtual press conference Tuesday, Guebert joined three other organization leaders of a statewide coalition against the Progressive Tax Amendment.
“After seven years of a depressed farm economy, we don’t need another tax increase,” Guebert told FarmWeek. “It’s hard enough to keep the bills paid and to be as profitable as possible.”
The proposed tax only applied to income above $250,000, so economically depressed farm-owners wouldn’t pay an extra dime, but you already knew that.
* More…
“The new tax structure is supposed to pay for our public schools, social services, public safety, and the list goes on and on,” [Guebert] wrote. “However, we know it will be spent in two places: our state’s exorbitantly high pension costs and debt obligations. The government created these two problems, not us taxpayers. We, taxpayers, have done our jobs; we are law-abiding, taxpaying citizens. We should not have to pay to fix the politicians’ mess.”
* As long as we’re talking about taxpayers, farmers get a ton of tax breaks.
Let’s start with their sales tax exemptions. Inputs like seeds, fertilizer and livestock feed and stuff like, um, bull semen, are exempt from sales taxes (click here.) Farm chemicals, farm machinery and equipment, all-terrain vehicles, repair or replacement parts and leased leased equipment are also exempt from taxation (click here).
State property tax law…
Most property is assessed at 33 1/3 percent of its fair market value.
Farmland is assessed based on its ability to produce income (its agricultural economic value). A farm building is assessed at one-third of the value that it contributes to the farm’s productivity.
There are even lower rates for other types of farmland (click here).
* The Question: Should the state end its agriculture tax breaks? Explain your answer in comments, please.
[Poll has been removed because it’s obviously being manipulated.]
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* Wheaton…
* Press release…
November 12, 2020
UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF ILLINOIS 219 SOUTH DEARBORN STREET CHICAGO,ILLINOIS 60604 NOTICE OF PARTIAL TEMPORARY SUSPENSION OF IN-COURT PROCEEDINGS
Dear Dirksen Courthouse and Roszkowski Courthouse Occupants:
In the last several days, there have been marked increases in the numbers of positive COVID-19 test results and hospitalizations in the Northern District of Illinois. Yesterday and earlier today, Illinois Governor Pritzker and Chicago Mayor Lightfoot responded by issuing advisories and recommendations for restrictions on travel and in-person gatherings. As you have seen in many recent letters from me, our court is not immune from the Coronavirus. A number of employees, visitors, and security personnel have tested positive.
Together with the District Court’s Executive Committee and the Restart Task Force, I am ordering restrictions on activities in our courthouses as follows: Effective at 4:30pm on Friday, November 13, 2020, the Clerk’s Office in Chicago and Rockford will close to in-person assistance until Tuesday, January 19, 2020. Clerk’s Office staff will accept filings via CM/ECF, e-mail, mail or the drop box in the lobby of the Courthouses. In addition, beginning Monday, November 16, 2020, all civil case proceedings will be held virtually. Jury trials will remain suspended until after January 19, 2020. To limit the number of individuals in the Courthouses at any time, all hearings in all civil cases will be conducted virtually, either by either via phone or video. We are drafting an order confirming these restrictions with a greater level of detail and will issue it shortly.
* And yet Crain’s Chicago Business just published this bonkers crackpot column today…
It’s time for the governor to take a new approach that allows businesses to reopen fully. The people of Illinois must be allowed to return to their jobs so that they can begin the difficult task of rebuilding their lives.
Yep. Let’s start by getting those quarantined Springfield firefighters back on the job!
* Amdor takes a look at the author…
Just totally irresponsible and ridiculous.
* Crain’s editorial board, maybe…
…Adding… Maybe Crain’s should completely cave and hire this guy full time…
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* Pearson…
Democratic U.S. Rep. Lauren Underwood won her bid for a second term Thursday, narrowly defeating Republican challenger Jim Oberweis in the west and north suburban and exurban 14th Congressional District, The Associated Press declared. […]
It was the second time Oberweis, 74, failed in a bid for the seat, losing in 2008. It joins a string of losses at the federal level for the investment and dairy magnate that included unsuccessful bids for the U.S. Senate in 2002, 2004 and 2014. Oberweis also lost a 2006 bid for governor and was unsuccessful in a past bid for the state GOP chairmanship.
As a result of his bid for Congress, Oberweis could not seek reelection to the state Senate seat he has held since 2013. Jeanette Ward, a Republican seeking to replace Oberweis in Springfield, conceded her race against Democrat Karina Villa.
This was actually the third time Oberweis lost a 14th Congressional District race. This year, the 2008 general election and the 2008 special general election on March 8. The special was prompted when Denny Hastert resigned from Congress. It was the first time a Democrat had won the seat since the Great Depression.
*** UPDATE *** Sigh…
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