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01/27/12

Illinois’ Unemployment Reality; Tax Foundation’s Scorecard; Governor’s Budget Address: Week of January 23-27, 2012

Illinois’ Unemployment Reality

The latest report on Illinois’ unemployment picture measures state joblessness at 9.8 percent. Meanwhile, a new report on the impact of taxation in Illinois is out and it shows the state’s tax burden climbing and is likely a contributing factor to the weak economy.

“Our unemployment rate has hovered at or near 10 percent since last September,” said State Sen. Kyle McCarter (R-Lebanon). “According to the latest reports, there are more than 647,000 Illinoisans who are out of work and unfortunately state government has not taken the proper steps to address joblessness in a way that is meaningful.”

Sen. McCarter said Illinois ranks 48th among the 50 states in the rate of job growth over the last decade - outperforming only Michigan and Ohio, and Illinois is consistently among the top 10 states with the highest unemployment rate.

“We’ve heard the administration tout the fact that the unemployment rate fell in December to 9.8 percent from 10 percent but the 9.8 percent is still well above the national unemployment rate of 8.5 percent, and it’s above the jobless rate of all bordering states,” said McCarter. “C...

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01/20/12

$7 Billion Wasted; Mental Health Closures; Goodbye Legislative Scholarships; Pension Abuse Continues: Week of January 16-20, 2012

$7 Billion Wasted

The year-old Illinois income tax increase took $7 billion ($7,000,000,000) out of the pockets of working families and employers to address the state’s budget problems and yet today, according to the latest report from the Illinois Comptroller, the backlog of old bills and overall budget problems remain virtually unchanged.

“If state government doesn’t stop spending more money than it takes in, it will never get out from under this financial millstone around our collective necks,” said State Sen. Kyle McCarter (R-Lebanon). “However, I still believe there is hope for Illinois. We have proof that if we employ fiscal restraint and responsibility, we can turn things around; the numbers add up; it is workable but what we need now is bold and honest leadership to make courageous fiscally-responsible spending decisions.”

Sen. McCarter said the way out of the financial mess was laid out in detail nearly a year ago when he released the Reality Check budget plan, which is still viewable at www.illinoisrealitycheck.com. McCarter said he is working on an updated plan, which he will release in time f...

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01/13/12

Tax Hike Anniversary; Permanent Tax Burden; Reality Check Plan: Week of January 9-13, 2012

Tax Hike Anniversary

One year ago this month, the largest tax hike in Illinois history was approved by Democrat majorities in the state Senate and House and signed into law by Democrat Gov. Pat Quinn.

“It’s difficult to ignore the political facts. Illinois Democrats own the tax hike and they own the financial crisis which led to the tax hike,” said State Sen. Kyle McCarter. “The average family took a $1,000 hit thanks to the increase in the state income tax.”

Late on the night of Jan. 12, 2011, a lame duck legislature led by Senate President John Cullerton (D-Chicago) and House Speaker Michael Madigan (D-Chicago) approved a 67 percent increase in the Illinois income tax rate for individuals and a 46 percent increase in the corporate income tax rate for employers. Gov. Quinn signed the tax increase into law on Jan. 13.

“Adding insult to injury was the majority party’s insistence on continuing its decade-long spending spree,” said McCarter. “That income tax increase was estimated to bring in $7 billion a year and yet today state government remains deeply in debt and can’t pay its bills.”

Permanent Tax Burden

The tax hike was pa...

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01/08/12

Grim Fiscal Reality; Responsible State Budgeting; Solutions for Overspending: Week of January 2-6, 2012

Grim Fiscal Reality

The new year begins with a grim preview of Illinois government’s fiscal health but the dire news isn’t a partisan political claim, it’s coming directly from the Quinn Administration, according to State Sen. Kyle McCarter.

“After years of warnings from Republicans about the path state government was on, it now appears that our Democrat political leaders are beginning to see the light,” said McCarter (R-Lebanon).

On Jan. 3, the Governor's Office of Management and Budget released preliminary revenue and spending projections for the next three fiscal years. The projections emphasize the severity of the financial challenges facing Illinois. For the coming fiscal year, the Governor's office promised a tightly balanced budget that would spend $33.7 billion, based on $34.1 billion in projected revenues. That budget would keep spending slightly under revenues, allowing for a modest surplus to reduce the state's backlog of bills. The outline presented by the budget office also indicated that virtually all state spending must remain flat for the next three years.

The need to address the state’s dire budget situation was further underscor...

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12/02/11

Tenaska lives again, Senate approves: Week of November 28-December 2, 2011

A one-day legislative session at the State Capitol left an out-of-state corporation a big winner and Illinois citizens and utility customers the big loser, according to State Sen. Kyle McCarter.
Like a horror movie villain which never dies, legislation giving the Tenaska Corporation the financial green light on the Taylorville Energy Center was brought back for yet another vote and this time the measure (Senate Bill 678) was approved by the Illinois Senate.

Sen. McCarter, a one-time supporter turned opponent said the deal is bad news for Illinois electric utility customers. McCarter said Tenaska gets a great investment and ratepayers will get stuck with the bills.
“This is a guaranteed return folks for 30 years and a mandate that we have to buy power at an above-market rate,” said McCarter in debate. “…The simple truth is that Tenaska is trying to place $9-billion of risk and cost on the backs of Illinois consumers while looking out only for itself.”

The Senator said the legislation guarantees Tenaska would get about a 10 percent return on their money over the next 30 years, “something working families who’ve been investing their hard-earned money...

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