Dear Neighbor,
The legislature will begin the new spring session at the end of January and my top priorities are to continue the fight for a balanced budget and decreased spending. I have made this my main focus over the last two years by sponsoring two major Medicaid reform bills that can save our state at least a billion dollars. They have both passed, but the administration has been slow on the implementation of the reforms. These bills are HB5420 and HB2934.
Business Climate
The 67% corporate tax hike, which I opposed, and other economic factors over the last few years have had damaging effects on the Illinois economy as seen below:
• Unemployment in Illinois has risen in 2011 from 9.1% to 10% which translates to 60,000 more Illinoisans out of work.
• Bond rating downgrade by Moody’s from A1 to A2. They cited weak management practices, failure to implement pension funding reforms and non-payment of overdue bills as the reasons. S & P and Fitch have not downgraded but gave stern warnings of a possible downgrade later in the year.
• Illinois companies are threatening or actually moving out of Illinois to more business friendly states.
• Between 1995 and 2009 the state lost 806,000 people to out migration.
Illinois is home to some of the largest businesses in the world and we need to compete with our neighbors to attract and keep employers of all sizes who provide good jobs for our working families.
Here are a few components of a recent jobs package we passed that will provide real broad based relief for large and small employers:
1. Reinstatement of the R&D tax credit for five years, and allowing business to extend the credit an additional five years.
2. Reinstatement of the Net Operating Loss Deduction. This gives business the ability to carry their losses forward in a tough economy.
3. Increase of the Estate Tax Exemption from $2 million to $4 million over a two year period.
Electronics Disposal
A new law that took effect January 1st makes it unlawful for citizens to dispose of unwanted electronics in their regular trash. Discarded electronics, including computers, monitors, electronic keyboards, scanners, fax machines and other electronic devices, must now be taken to a registered recycler for proper management. It is illegal for the customers to dispose of them in normal roadside pick-up and it is illegal for Illinois landfills to accept them.
Old electronics contain a variety of potentially toxic contaminants. These contaminants must be kept out of Illinois’ 48 active landfills.
The Illinois EPA maintains a web site at: http://www.epa.state.il.us/land/electronic-waste-recycling/index.html, and additional information can be found at http://www.dupageco.org/recycling/.
Upcoming Events
• Bellock/Pihos Town Hall meeting Tuesday, January 24th
Rep. Patti Bellock of the 47th District and Rep. Sandy Pihos of the 42nd District will be hosting a joint Town Hall meeting to discuss important issues facing the General Assembly in the upcoming 2012 session.
Date: January 24, 2012
Time: 7pm – 9pm
Location: Downers Grove Park District Recreation & Fitness Center – Lower Level
4500 Belmont Road
Downers Grove, IL 60515
For more information contact Yvonne Kolling at 630/852-8633(Bellock)or Michelle Myers at 630/858-8855(Pihos).
• Governor State of the State Address – Wednesday, February 1st
• Go Red Day – Heart Awareness – in Springfield – Thursday, February 2nd
• Governor State of the Budget – Thursday, February 22nd
• Alzheimer’s Advocacy Day in Springfield – Tuesday, March 27th
• Autism Day in Springfield – Tuesday, April 24th
All of my best wishes for a safe, healthy and happy new year. I look forward to your comments and to keeping you updated on Springfield issues in the upcoming newsletters.
Best regards,
Patti
