Five states have passed legislation to set up auto-IRAs, and several others are considering doing the same. Observers expect this push will slow if Mr. Trump ultimately nullifies the DOL’s state rule as well.
Illinois has announced $2 billion more in additional borrowing from the Federal Reserve. Only one state or city in the entire country has borrowed from the facility since its inception: the state of Illinois. All others have successfully raised billions from the traditional markets during the pandemic.
The strategy of shutting much of the state down – from lockdowns to school closings – has done far more harm than good, in part because it’s taken health officials’ eyes off of the elderly and the infirm.