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Already strained by unfunded pension obligations, states now face a collapse in tax revenue.
The earthmoving-equipment manufacturer, which has an operation in Decatur, is among essential businesses and services spared from Gov. J.B. Pritzker’s shelter-in-place order.
Industry leaders say the Illinois factories processing beef and pork are running at normal capacity with multiple shifts a day to keep shelves and meat cases stocked.
The shutdown of the U.S. economy over COVID-19 highlights an often misunderstood aspect of wealth: it’s created by money moving. When money stops moving, wealth swiftly disappears. Put another way, wealth is a stream, not a lake.
One DeWitt County farmer said while the coronavirus is on everybody’s mind, it’s the markets that are going to have a more immediate impact on the life of a farmer this spring. “The biggest thing is that the grain markets went to hell. The oil markets went to hell and the grain markets followed and that is our concern right now.”
“This is the year to do it and there’s a bipartisan group of folks working towards it,” said State Sen. Jason Plummer. “It seems like a lot of good things are lining up. And the governor has said he would only sign a map that is fair and I hope he honors his word.”
Pritzker said, “This is not a time for politics. We have too much to do to save people’s lives.”
When asked about their personal finances, 42 percent of respondents said they were “very concerned” and another 36 percent said they were “somewhat concerned.”
“That’s huge — worse than all but one quarter during the Great Recession 12 years ago. It means state and local revenue sources of all types will get slammed, and pensions, already a crisis in Illinois, are seeing the value of their assets shrink rapidly,” writes Wirepoints’ Mark Glennon.
Specifically, the order requires public and private insurers to reimburse doctors for a virtual doctor’s visit as if it were an in-person visit. It also places restrictions on insurers tacking on extra fees for telehealth visits.
Just last month, the U.S. Department of Labor warned that six of the nation’s largest states — California, Illinois, Massachusetts, New York, Ohio and Texas — would not be able to handle a surge in unemployment claims on their own.
Restaurants citywide are working to maintain some cashflow by selling $25 gift cards for the price of $20 and encouraging patrons to pre-order for Easter and small events in the future with discounts, as well as selling merch.
No one was arrested as a result of the parties.
Chicago’s potentially unconstitutional booting and ticketing schemes fall disproportionately on low-income and minority residents, those whose livelihoods are most at risk during severe economic shocks.
Other officers are currently being tested for the virus.
“If you thought a little something like a global pandemic would stop the tax revenue bonanza that Illinois has been enjoying ever since the state legalized recreational marijuana, buddy, you thought wrong.”
Certain types of businesses — especially grocers and delivery services — are rushing to hire thousands of workers to handle a crush of business related to COVID-19. Mariano’s, Jewel-Osco, Walmart, Amazon and Domino’s Pizza have all embarked on hiring sprees to keep up with demand.
“There have been a lot of rumors circulating around that are completely inaccurate,” Pritzker said. “Rumors that there’s going to be martial law that’s going to be imposed, that we’ve called out the guard or the military somehow to impose their will upon the state of Illinois. Those are all false. I want people to take a deep breathe.”
The $100 million loan fund will start taking applications March 31 from businesses affected by the coronavirus. The loans are designed to help businesses with cash flow for rent and payroll.
“Out of an abundance of caution for the health of law enforcement and the community at large, the state’s attorney’s office will not be pursuing cases which pose little to no risk to public safety at this time,” said State’s Attorney Kim Foxx. The office is also reviewing whether to prosecute other types of charges on a case-by-case basis in light of drastically reduced courtroom operations.
“We’ve all been readying for really bad news. This is bad news,” Todd Maisch, CEO of the Illinois Chamber of Commerce, told Crain’s Chicago Business.
Cook County Public Defender Amy Campanelli has filed a request for the mass release of detainees in several categories, including people with underlying health conditions, pregnant women, those detained for nonviolent offenses and anyone who is locked up since they cannot afford to pay bail.
You can almost see Pritzker’s thinking play out if you pay attention to what he says. He telegraphs his actions, which, frankly, is a good thing.
Expiration dates for driver’s licenses, identification (ID) cards, vehicle registrations and other transactions and document filings will be extended for the duration of the disaster proclaimed by Governor Pritzker and 30 days after the disaster ends.
Health experts say the Illinois prisons are at risk of a coronavirus outbreak because of the crowded and unsanitary conditions, and because of an aging population. Nineteen percent of the IDOC population is 50 years of age or older.
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