• HOME :
  • NEWS :
  • STATE CAN THANK FEDERAL RELIEF FOR CREDIT-RATING UPGRADE

State can thank federal relief for credit-rating upgrade

JULY 12, 2021 | by Ted Dabrowski, John Klingner | THE NEWS-GAZETTE (ILLINOIS)

Op-ed by Ted Dabrowski and John Klingner (Wirepoints), includes “In mid-2020, shutdowns ravaged the state’s tax base, Senate President Don Harmon asked for a $42 billion bailout from Congress, and the state projected billions in multiyear budget shortfalls. What changed so dramatically in such a short period of time? Ignore the claims by Illinois lawmakers of their heroic acts of ‘balanced budgets,’ ‘fiscal discipline’ and the like. … The amounts are staggering, and putting aside the fact that the feds are printing and/or borrowing the money, the cash has juiced Illinois’ economy, boosted tax revenues and papered over Illinois’ fiscal problems — at least for a little while.”

VIEW LESS