(SPRINGFIELD) A major credit ratings agency says Illinois’ new state budget is “more of the same” from the worst-rated state in America. In an analysis of Illinois’ new $38.5 billion budget released yesterday by S&P Global Ratings, the agency says that while the spending plan has been approved ahead of time, unlike previous years, may have positive implications for the state’s credit rating, it’s still just one level above “junk” status. The agency also noted that the budget assumes savings from a pension buyout that at this time is “uncertain” and it does not pay down billions in bills or set aside money for a reserve fund as well.
(CHICAGO) Democratic billionaire J.B. Pritzker has made a $25 million contribution to his campaign for Illinois Governor. The donation means Pritzker has not put more than $100 million of his own money into his bid to unseat Republican Governor Bruce Rauner, who has put in $76 million of his own into the race. As we’ve stated before, the contest would become the most expensive Governor’s race in U.S. history, exceeding the roughly $280 million spent in the 2010 California Governor’s race between former Governor Jerry Brown and ex-Hewlett Packard CEO Meg Whitman. Election day in Illinois is November 6th, 2018.
(SPRINGFIELD) State Representative John Cavaletto says a four lane U.S. Route 50 across Illinois has been dropped as a federal highway project and he’s now leading an effort to get it reinstated. The Marion County lawmaker says he and others were shocked to learn of the project’s fate during a recent meeting with IDOT officials. Cavaletto is now out asking counties and cities along Route 50 to sign new resolutions urging construction of the expanded highway from Salem to Lawrenceville. The Salem City Council unanimously approved such a resolution in favor of a four lane U.S. Route 50 this past Monday night.