The payoff for the Edgar company?
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On the final day of the fiscal year Thursday.
“We thought ’91 was protracted and it looks like child’s play compared to what they’ve gone through this year”, the former Republican governor said.
His company joins five others already in the business of bailing out businesses owed money by state government.
“I believe and I firmly hope that right now we’ve hit the bottom”, Rauner says. Jerry Costello, a downstate Democrat who’s now a lobbyist in Springfield and Washington.
Former Democratic U.S. Rep.
After a year of divisions between Republican and Democratic leadership at the IL statehouse that has seen petty political bickering , but also wide gaps in political and economic philosophies between the two sides, lawmakers Thursday are poised to vote on a spending plan to keep schools open and fund state operations through the November election.
IL lawmakers come up with a plan to keep schools open for at least another year. Bruce Rauner over the state’s ongoing budget stalemate. “It’s obvious what we’ve done the previous year hasn’t worked”. Our unpaid bills will continue to grow. The state has to pay 1 percent interest a month on all bills that are more than 90 days past due.
This year, Pennsylvania went nine months without a budget because the Democratic governor wanted a multibillion-dollar tax increase from ruling Republicans. In exchange, the vendors forego their late-payment interest.
Rauner said the Democrat legislators did not want to take votes on a balanced budget and proposed reforms prior to the November election, but after that, budget talks will have to get serious. The national satirical news program “The Daily Show” aired a segment about the impasse, in which the reporter compared two legislators to “Muppets” characters and suggested in impolite terms that young people should get out of IL. But the Rauner administration has set up an alternate program, called the Vendor Support Initiative, that’s allowed the qualified purchasers to keep fronting money to certain vendors. He has repeated throughout his time as governor that those policy changes would bring an influx of businesses into the state, which would help bring in additional revenue to the state. State Reps. Mike Tryon, R-Crystal Lake, Barbara Wheeler, R-Crystal Lake, and Steven Andersson, R-Geneva, voted for the stopgap budget and the CPS bills. “Unfortunately, we’re not there”. “There is something to hate about every one of those bills, but the alternative would have been much worse if some of that stuff didn’t pass”. If, by chance that lottery victor happens to live in IL, they face the very real prospect of not collecting on their winnings and it is in great part because an extremely wealthy financier is governor and gave himself three-quarters of a million dollar tax cut every year.
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This month Moody’s Investors Service and S&P Global Ratings downgraded IL to the lowest level for a state in over a decade, and investors are still demanding the highest spread from IL out of all 20 states tracked by Bloomberg.
