Illinois is hoping to receive an official disaster declaration from the U.S. Small Business Administration (SBA) after the June 20 tornadoes, which will enable small businesses and residents alike to apply for long-term loans with low-interest rates as they rebuild.
Cook County officials are currently faced with an approximately $82 million budget hole for 2019 and are expecting a $95 million deficit for operating funds in 2020, leaving the government in a unique situation as it attempts to find a solution.
Illinois' fiscal situation is out of control and the state has increased taxes drastically over the past few years, but some politicians are saying enough is enough, including U.S. Rep. Peter Roskam, who is seeking re-election.
The state of Illinois has been short on money in the past few years, and recently, a Chicago-based think tank suggested that taxing retirement income could bring the state an extra $2.7 billion in revenue if taxed at the same 4.95 percent rate that wage income is taxed.
The Civil War is long over, but it remains fresh in the minds of the members of the Civil War Round Table, a group of history buffs dedicated to the dark time in U.S. history.
In a recent study by the Southern Illinois University Carbondale’s Paul Simon Public Policy Institute, the concept of responsibility for the financial situation of the state of Illinois was discussed at great length, directing much of the blame for its problems towards politicians and voters.