McHenry County Blog

A press release from the Illinois State Chamber of Commerce:

Unemployment Insurance Reform to Save Illinois Employers $400 Million

Statement from Illinois Chamber President & CEO Doug Whitley

CHICAGO – “Illinois businesses will save more than $400 million in unemployment insurance taxes thanks to the actions of state officials, who today refinanced a federal loan used to pay unemployment insurance claims,” said Doug Whitley, President & CEO of the Illinois Chamber.

“Negotiating last year’s legislation was a laborious task, but it achieved long-term tax stability and savings for employers in our state unemployment insurance system.”

The $1.5 billion bond sale at a 1.46 percent interest rate to pay off the unemployment insurance debt owed to the federal government will erase a looming $200 million federal tax obligation on businesses and save $30 million in interest costs for this year.

An additional $200 million in savings over the next seven years will occur through business rate and benefit payment reforms that passed in 2011 with overwhelming bi-partisan support and endorsement from leading business and labor organizations.

“The members of our business community, especially our small-business owners, are leading this economic recovery. Today’s bond sale brings closure to many months of negotiations and long-range planning to help Illinois employers rebound from the Great Recession,” said Whitley.

“Satisfying the state’s debt obligation to the federal government while demonstrating the ability of Illinois’ elected leaders to constructively address another major business issue indicates our state is taking positive actions to restore confidence in government decision making.

“Continuing to find thoughtful solutions to public policy issues is essential to demonstrate Illinois is on the path toward economic growth and prosperity.”

Illinois was among more than 30 states to borrow from the federal government to pay unemployment insurance.

Unemployment insurance benefits are funded through business taxes and are paid to workers who are out of work through no fault of their own.

The unemployment insurance program is designed to borrow during times of economic crisis and grow fund balances during economic prosperity. Because businesses provide a dedicated revenue stream for this temporary assistance, there was no impact on the state’s budget.

The Illinois Department of Employment Security (IDES) issued the bonds, which earned an AA+ rating from Fitch Ratings and AA from Standard and Poor’s Financial Services LLC. The ratings meet or exceed those earned in 2003 and 2004, the last time the IDES issued bonds to repay federal loans that funded unemployment insurance benefits.

The 1.46 percentage rate is significantly lower than the 2.94 percent the IDES had been paying to the federal government.

Refinancing the loan will save an employer $42 for each worker next year.

The 2011 agreement provides significant tax reductions to the nearly 46 percent of Illinois employers – more than 143,000 – that did not lay off workers during the recession.

The 2011 law championed by the Illinois Chamber also contained reforms to fight waste by introducing new tools to prevent and recover fraudulent payments, which will help restore Trust Fund solvency.

For example, the state collected $40 million through garnishing federal tax returns of individuals who knowingly defrauded the program and refused to consider a repayment plan.

A press release from the Illinois State Chamber of Commerce:

State Representative Mike Tryon Named “Champion of Free Enterprise”

Springfield, Ill. – State Representative Mike Tryon has once again been named a Champion of Free Enterprise by the Illinois Chamber.

Each year the Illinois Chamber recognizes those legislators whose voting records most support the business community with their Champions of Free Enterprise Awards.

“If employers are to change the culture in Springfield, they must educate themselves on the record of their representatives and hold them accountable for it,” said Doug Whitley, the Illinois Chamber’s President and CEO.

“We believe the Chamber’s legislative ratings are an effective tool in this endeavor, and legislators whose defense of free enterprise and the furtherance of economic opportunities for Illinoisans deserve our recognition. Representative Mike Tryon knows what it takes for employers to be successful and he is working to address the number one problem in our state, which is creating more jobs.”

The Chamber’s ratings are based on legislators’ votes on the key business legislation in the General Assembly. The votes in the Senate and House are selected based on their impact on the business community and, to a lesser extent, the gap between opposing views on the issue. The votes are weighted accordingly. In cases where more than one roll call was taken on a bill, the most significant vote impacting the resolution of the issue has been selected.

Legislators with Illinois Chamber ratings averaging 85% or better over the previous three General Assemblies have demonstrated their commitment to legislation that frees the entrepreneurial spirit and therefore qualify for the award.

State Senator Brady accepted the gubernatorial endorsement from of the Illinois State Chamber of Commerce in Chicago today.

The organization has 3,500 members.

April 14th, a pollster called one of McHenry County Blog’s friends in Algonquin.

Here’s my contact’s description of the phone call:

She said she was located in Asia and representing Western Wats. I tried to jot down her questions, not word for word, for you;

1. Will you vote in the Republican primary for IL governor?

2. Is IL heading in the wrong or right direction?

3. Approve or disapprove of the job state legislature is doing?

4. Who would you likely vote for governor? This was her list to choose from;

• Joe Birkett
• health care
• Kirk Dillard
• Bill Brady
• Doug Whitley
• Dan Proft
• Tom Cross
• Bob Schillerstrom
• Ron Gidwitz

5. What issue(s) concern you or you think legislature should focus? She
quickly read off this list;

• abortion
• lowering taxes
• reform and ethics
• improving education
• reducing crime
• family values
• wasteful state spending
• Second Amendment rights
• protecting the environment
• creating jobs/improve state economy

6. Do you subscribe to cable or satellite TV?

7. Who is your provider?

8. How often do you watch:
MSNBC; daily, few times a week, once a month, etc.,
Fox News; daily, few times a week, once a month, etc.,
CNBC; daily, few times a week, once a month, etc.

9. Do you listen to the radio?
How often do you listen to Hannity?
Limbaugh?

10. What year were you born?

11. Are you Evangelical or born-again Christian?

12. Support or oppose abortion?

You can pretty well guess that the person paying for the survey research is listed among the names read.

If anyone else gets a political polling call, please make notes and let me share them with McHenry County Blog readers.

= = = = =
Seen on top are Joe Birkett on the left and Kirk Dillard to his left. Next comes Bill Brady. Under him is a photo of Ron Gidwitz. Dan Proft is to the left. Below him is Tom Cross.

Freshman State Senator Dan Duffy, a businessman from Lake Barrington in Lake County, was touted for governor in Chicago Sun-Times columnist Steven Huntley’s column yesterday.

In an piece entitled,

Duffy’s name pops up in the middle of the column, right after the self-dismissals of

• Illinois Supreme Court Justice Bob Thomas,
• Bush HUD Secretary Steve Preston (who?),
• Chicago equity fund chairman Bruce Rauner,
• Congressmen Mark Kirk and
• Peter Roskam, and
• U.S. Attorney Patrick Fitzgerald.

Here’s what Huntley wrote:

“State Sen. Dan Duffy of Barrington, a Legislative newcomer, impresses many in the party. He acknowledges hearing suggestions he run, but no one in the party leadership has approached him.

“The party is now evaluating a lot of people and that’s a good thing,” he says. “If party leaders aid, ‘You’re that person,’ I’d have to have a serious conversation with my family and find out if this is the right time for me. Bit we’re not there yet.”

“A jump from newly minted legislator to governor in just two years would be quite a challenge.”

The column continues with former candidates for governor, State Senator Bill Brady, who ran third in the 2006 gubernatorial primary, Ron Gidwitz (4th) and Jim Oberweis, who ran second.

DuPage County Board Republicans, Chairman Bob Schillerstrom and State’s Attorney Joe Birkett, they of the tripling of the RTA sales tax.

Doug Whitley is also mentioned…more favorably than others actively seeking the office.