Quick hits: Illinois news in brief for Thursday, June 24, 2021
24,500 people file for unemployment benefits in Illinois
Fewer Illinoisans filed for unemployment claims last week than the week before.
There were still nearly 24,500 people who filed initial claims, according to the U.S. Department of Labor.
Last week’s figure was more than 3,600 fewer than had filed the week before. At around 7,500, there were about 3,500 fewer independent contractors filing for Pandemic Unemployment Assistance last week than the week before.
Fitch gives Illinois bond a positive outlook
Despite having its outlook upgraded from negative to positive, Illinois’ credit rating is still a notch above speculative grade.
Fitch Ratings Agency changed its outlook from negative to positive, driven by billions in federal taxpayer aid amid the COVID-19 pandemic, but affirmed the state’s BBB minus rating.
Fitch said public employee pension costs are “unusually large” and “will continue to grow under current law.”
Lawmakers send 200 bills to Pritzker’s desk
There are now more than 200 bills on Gov. J.B. Pritzker’s desk for him to act upon.
The governor has two months to sign, veto, issue an amendatory veto, or do nothing, and the bill would automatically become law.
Some measures have had a motion to reconsider placed on them that hold the bill until the motion is removed. One is House Bill 562, which is the measure impacting the state’s Firearm Owner’s Identification Card.
$6 billion leaves Illinois
The collective wealth of Illinois residents decreased $6 billion in 2019 due to population migration trends, according to a new analysis of Internal Revenue Service data by the nonprofit Wirepoints website.
The performance of Illinois in the analysis was the third-worst among the lower 48 states.
The study shows states attracting people and wealth resulted in economic growth and investment. States suffering loss have difficulties in paying down public debts as well as higher taxation.
Illinois has 13th highest wine taxes in nation
Illinois has the 13th highest tax on wine in the nation, according to the nonpartisan Tax Foundation.
The state’s excise tax is $1.39 per gallon, meaning Illinois isn’t the highest among its neighbors.
Kentucky took the top spot in the country with $3.23 per gallon. Iowa ranked No. 4 with a $1.75 tax per gallon tax.
All other neighboring states had less than 50 cents a gallon in taxes.
IHDA reports $70 million in payouts to landlords, tenants
The Pritzker administration and the Illinois House Development Authority say the state has paid out $70 million to landlords of tenants in 87 counties that have back rent.
In total, the state said 70,000 applications totaling $644 million from federal tax dollars have been requested.
Applications to access some of the $1.5 billion available can be filed at ILRPP.IHDA.org through July 18.
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