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* Center Square…
Democrats and Republicans have differing opinions on the $42 billion spending plan that was revealed just hours before passing.
Business groups had mixed reactions.
“REPUBLICANS MAD!” is a much-told story this session (like, multiple times a day), but Greg Bishop actually found a business group that didn’t completely dump all over the budget? What, pray tell, might that one be?
* Scroll to the end…
Illinois Chamber of Commerce President Todd Maisch also criticized the lack of money for the unemployment trust fund and decreased tax credits. But, on WMAY he did praise lawmakers’ decision to include paying down debt in the budget.
“And that is a good idea, we have to go ahead and reinforce that,” Maisch said. “Wherever you are on the political spectrum, paying down debt is a really important concept.”
Maisch also praised the hundreds of millions in federal funds outlined to support the state’s tourism and hospitality sector.
posted by Rich Miller
Wednesday, Jun 2, 21 @ 11:00 am
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REPUBLICANS MAD (exclamation point)
SPENDING GOOD?
Comment by Asteroid of Caution Wednesday, Jun 2, 21 @ 11:03 am
===“Wherever you are on the political spectrum, paying down debt is a really important concept.”===
The Raunerites beg to differ.
Comment by Cubs in '16 Wednesday, Jun 2, 21 @ 11:26 am
“paying down debt is a really important concept”
The DPI is now the fiscally responsible party. That talking point is priceless and should be a main feature of the party, especially after the GOP fiscal catastrophe of Rauner and Trump (and post-Trump, with rejection of the federal stimulus). But will it hammer home those talking points, like the GOP does?
Comment by Grandson of Man Wednesday, Jun 2, 21 @ 11:28 am
GOP mad as heck, now get that money I voted against flowing to my district. I’ve got credit to take.
Comment by Give Me A Break Wednesday, Jun 2, 21 @ 11:44 am
While Democrats continue to pat themselves on the back they ignore the 5 billion dollar hole in the unemployment trust fund that was unaddressed while funding 1 billion worth of projects in Dem districts only.
Tax increases for employers or benefit reductions for unemployed workers are coming until tis is addressed.
How is that fiscally responsible?
Comment by Lucky Pierre Wednesday, Jun 2, 21 @ 11:52 am
==While Democrats continue to pat themselves on the back==
Noted Democrat Todd Maisch…
==funding 1 billion worth of projects in Dem districts only==
Republican members shoulda filed some approps bills.
==How is that fiscally responsible? ==
Because “fiscally responsible” isn’t defined as “Lucky Pierre’s political preferences”, especially since your political preferences are little more than “JB Pritzker is marched through the streets of King’s Landing and pelted with rotting vegetables while a nun yells ‘Shame’.”
Comment by Arsenal Wednesday, Jun 2, 21 @ 12:44 pm
Todd and others might go whisper to Durkie and Deems and point out early Treasury guidance says using the ARP $$ to pay down unemployment debt is a no no. Perhaps that is why it did not happen
Comment by Annonin' Wednesday, Jun 2, 21 @ 1:01 pm
Unnnh…fire bad.
Comment by Dotnonymous Wednesday, Jun 2, 21 @ 1:05 pm
FY21 revenue projections show that we actually didn’t need to borrow funds to balance the FY21 budget, so paying back that debt was a no brainer.
And the interim federal rule is pretty darn clear on the UI trust fund:
State Unemployment Insurance Trust Funds. Consistent with the approach taken in the CRF, recipients may make deposits into the state account of the Unemployment Trust Fund established under section 904 of the Social Security Act (42 U.S.C. 1104) up to the level needed to restore the pre-pandemic balances of such account as of January 27, 2020 or to pay back advances received under Title XII of the Social Security Act (42 U.S.C. 1321) for the payment of benefits between January 27, 2020
Comment by Phenomynous Wednesday, Jun 2, 21 @ 1:40 pm
“The DPI is now the fiscally responsible party”.
A large part of their political appeal is still centered on how much they will spend for the benefit of their various constituencies. They will be ‘fiscally responsible’ only up to the point of it losing votes for them.
Comment by Woodcutter Wednesday, Jun 2, 21 @ 2:40 pm
It’s telling that the usual debt scolds are not happy with our progress, almost as if it’s not debt they really care about but political gain and attacking opponents. Rauner couldn’t care less about debt, just trying to make public employees much poorer.
Comment by Grandson of Man Wednesday, Jun 2, 21 @ 3:55 pm
@Annonin
Sorry to burst your bubble but that is patently false. Numerous states used ARPA money to pay off their UI debt including Ohio ($1.4 billion) and Indiana ($400 million) as just two examples.
ARPA money cannot be used for pension debt, funding tax cuts, rainy day funds, legal settlements, or financial reserves.
Comment by 4 percent Wednesday, Jun 2, 21 @ 6:00 pm
Why are we still pretending that Greg Bishop is a legitimate reporter? He’s a mouthpiece for IPI, no more or less.
Comment by Under the Dome Wednesday, Jun 2, 21 @ 10:32 pm