(SPRINGFIELD) The Illinois Department of Employment Security says the state’s unemployment rate reached 5% in February, up one-tenth (0.1) of a percentage point from January and up three-tenths (0.3) of a percentage point from the same month a year ago. The U.S. Bureau of Labor Statistics data shows total nonfarm payrolls decreased 0.3% in February.
(SPRINGFIELD) State legislative leaders from both parties spoke to the Illinois Chamber of Commerce about the broad state of legislation and their respective priorities yesterday in Springfield, as the end of the General Assembly’s spring session draws closer. It was during Illinois Chamber Day at the state captiol that the disagreement was clear on how lawmakers can help the citizens of Illinois. While the Democrats want to increase revenue, which would require tax increases, the Republicans want to cut taxes, which could result in a future cut in services.
(SPRINGFIELD) The Illinois House has passed legislation requiring elementary and high schools to provide curriculum that includes the study of contributions by Latin Americans to the development of the United States. House Bill 4372 directs the regional superintendent of schools to monitor school districts’ compliance. House Republicans, including those from our downstate area, opposed the measure, calling it another unfunded mandate that would lead to higher taxes.
(SPRINGFIELD) The U.S. Treasury Department’s Office of the Comptroller of the Currency has released notice of a pending order to preempt the Illinois Interchange Fee Prohibition Act. The state law scheduled to take effect on July 1st would prohibit banks and credit card companies from charging swipe fees on the tax and tip portion of transactions when a consumer pays with a credit or debit card. The Illinois Retail Merchants Association says this prioritizes the bottom line of banks and credit card companies over meaningful relief for businesses and consumers.