Illinois

Moody’s and S&P downgrade Illinois’ credit rating, the 16th and 17th downgrades since 2009

By Ted Dabrowski, John Klingner
06/10/2016
Major ratings agencies have assigned a negative outlook to Illinois. To move forward, the state can’t pass just any budget – especially one that’s $7 billion out-of-whack – to get beyond its crisis. With today’s fiscal stress, a bad budget is worse than no budget. A budget without reforms will only allow Illinois’ debt to continue to spiral, putting investors – and more importantly, Illinois residents – at risk.

TAGS: credit rating, Moody's Investor Service

Illinois employers announce 1,300 layoffs in May

06/07/2016
The most recent Illinois WARN report shows 1,300 mass layoffs in May, including 513 layoffs in the manufacturing sector, up from 450 large-scale layoffs and six manufacturing layoffs in April.

TAGS: WARN

From budget gridlock to traffic gridlock: Resumption of vehicle-emissions-testing requirements causes traffic jams

By Amy Korte
06/07/2016
The Illinois Environmental Protection Agency is again mailing notices of vehicle-emissions-testing requirements to vehicle owners, and effective June 1, the Illinois secretary of state has resumed requiring certain drivers to pass emissions tests prior to renewing their license plates. Drivers scrambling to comply by the secretary of state’s June 1 effective date caused headline-making traffic jams throughout Chicago and its suburbs.

TAGS: budget, emissions test, Illinois Secretary of State, vehicle registration