Illinois

Illinois ACT scores post biggest drop in a decade

08/22/2013
New ACT scores reveal that Illinois schools are still struggling to prepare their students for life after graduation. Overall, only 25 percent of the state’s students were considered college-ready in all four subjects – the exact same percentage as last year and 1 percentage point below the national average. This is still too low, especially for a...

Chicago’s latest money grab: 300 speed cameras could generate up to $4.3 billion in fines from local motorists

08/21/2013
Cash-strapped Chicago is about to get an injection of money from motorists. The city is installing its controversial speed cameras at four neighborhood parks on Monday, and has plans for eight additional locations in the next few months. The city announced the results from a test of the new technology that showed surprising results. During a December trial,...

TAGS: Chicago, speed cameras

Illinois has second-highest unemployment rate in nation

08/20/2013
Illinois has the second-highest unemployment rate in the nation, a rank the state has held for five months now, behind only the state of Nevada. Illinois’ unemployment rate rose to 9.2 percent in July, up from 9.1 percent in June, according to the Bureau of Labor Statistics, or BLS. Today’s BLS release highlights how poorly...

Brady proposes voucher plan for displaced CPS students

08/20/2013
The parents of the 30,000 displaced Chicago Public Schools, or CPS, students’ who will be attending new schools this fall are worried about their children’s futures. These fears are reasonable – what parent wouldn’t we be concerned about having their child walk to school along a Safe Passage route that was recently the scene of...

Moody’s credit downgrades: Illinois, Chicago area, take beating

08/19/2013
The recent string of credit downgrades by Moody’s Investors Service should leave little doubt what the rating agency thinks of Illinois’ worsening fiscal crisis. For the past few years the state’s five state-run pension funds have garnered most of the negative attention in Illinois. Moody’s has already designated Illinois’ debt as the riskiest of any...

TAGS: Chicago, downgrade

Quinn signs 70 mph speed limit law for Illinois

By Brian Costin
08/19/2013
Gov. Quinn signed into law Senate Bill 2356, which increases speed limits on rural highways to 70 miles per hour. The limit increase only affects highways outside of urban areas. Highways within Cook, DuPage, Kane, Lake, Madison, McHenry, St. Clair, and Will counties will be able to opt out through local ordinances. According to the Chicago Tribune:...

TAGS: speed limit

Cook County’s debt downgraded: pension liabilities double under Moody’s new methodology

By Ted Dabrowski
08/17/2013
Chicago’s fiscal crisis just got worse. Last month, the city received a rare triple-notch downgrade from Moody’s Investors Service, to A3 from Aa3.  Now, Chicago’s parent government, Cook County, has received a downgrade of its own. Moody’s Investors Service downgraded Cook County’s general obligation bond rating to A1 from Aa3 due to the county’s “growing...

TAGS: Chicago, Cook County, downgrade

To help small businesses, Illinois should make LLC fees fair

08/16/2013
If you want to start a small business in Illinois, there are different forms your new business can take. For example, you can have a sole proprietorship, a partnership, a corporation or a limited liability company, or LLC. The LLC is a relatively recent innovation that has advantages over the corporate form, and it can...