Illinois Faces Hurdles Steering Budget to Navigate a Recession – Bloomberg/Yahoo

“Reasons why Illinois continues to be the lowest-rated state is less budget resiliency for a recession compared to other — higher-rated — US states,” said Ty Schoback, a senior analyst for Columbia Threadneedle Investments, which owns Illinois debt. “This takes the form of longer track records of fiscal prudence, higher budget reserve build-ups, and better funded pension funds which have a better ability to absorb the impact of a recession to capital market valuations.”

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Universal income programs spreading across US – FOX News

Mayor Lightfoot speaks at press conferenceFunding for Chicago’s program comes from the American Rescue Plan, which President Joe Biden signed in response to the pandemic. While conservatives are bristling at this use of the money, Chicago Mayor Lori Lightfoot dismissed those complaints, saying “I’m the mayor of the city of Chicago. I know what our people need.”

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Cook County’s delinquent property tax system target of proposed legislation – Chicago Tribune*

Legislation introduced by state Sen. Ram Villivalam would reduce the amount of interest charged on late property tax payments and close a loophole in the state tax code that leads to local governments losing millions of dollars each year to private investors. The bills were crafted by Treasurer Maria Pappas’ office based on two studies conducted by the office last year that found the county’s property tax system disproportionately affects Black and Latino communities.

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City of Chicago: Supreme Court’s Dobbs decision should end ‘bodily autonomy’ claims vs Covid vax mandates – Cook County Record

Even as Mayor Lori Lightfoot and others in Chicago’s elected Democratic leadership excoriated the U.S. Supreme Court for its decision last summer overturning Roe v Wade, lawyers for the city have seized on that decision to back their assertions the so-called “right to bodily autonomy” courts cited for decades to uphold abortion rights should not also extend to those seeking to defeat Covid vaccine mandates.

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LaHood urges action against China for floating objects over U.S. – Center Square

U.S. Rep. Darin LaHood is a member of the House Select Committee on Strategic Competition. The 24-member panel is expected to push bipartisan legislation focused on Beijing, including decreasing dependence on the Chinese economy, and investigating ties between China and Russia. “We ought to be working on the economics and isolate China more, I think that has to be a big part of that,” said LaHood.

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Opinion: Pritzker should listen to the Civic Committee this time – Crain’s*

Joe Cahill: New taxes are never welcome, especially in a relatively high-tax state like Illinois. But a time-limited tax that eliminates a fiscal albatross and ultimately saves tens of billions makes sense, with two provisos: Legislation enacting the pension surtax must include ironclad prohibitions on extending the expiration date or using the funds for other purposes.

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Unwed births, illiterate children and black-on-black crime: What Chicago’s mayoral candidates ignore – Wirepoints

Chicago’s mayoral candidates may seem like they’re paying attention to the plight of the black community when they talk about crime, boosting spending for city schools, and tough job prospects. But if you won’t talk about births to unmarried mothers, kids raised without fathers and students who are functionally illiterate, you’re skating past the root causes of today’s troubles.

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