McLean County Times

Illinois Republicans have been saying for years that the state’s residents are overtaxed and overregulated, and this report just lends more credence to that view," highlighted the recent report from Moody’s Analytics and the state’s Commission on Government Forecasting and Accountability, which found that high taxes are hindering economic growth in Illinois.

The report also shed light on the storm clouds gathering over the state budget, with the Commission on Government Forecasting and Accountability warning that "sales tax revenue is flat, growth of income tax revenue is slowing down, and spending in the current state budget is largely tied to one-time revenue."

Regarding potential solutions, Republicans are advocating for bills like House Bill 4866, which, if enacted, would provide property tax relief and save Illinoisans $82 billion over the next 21 years. This bill aims to benefit lower-income communities the most, addressing the state's "worst in the nation" status in Economic Racial Equality.

In response to the budget concerns, it was emphasized that "we need to heed these warnings and act responsibly before our budget situation deteriorates any further."

Moving on to community interactions, Representative Bunting shared insights from a recent meeting with local economic development leaders, expressing gratitude for their efforts in attracting new businesses, expanding existing enterprises, and strengthening the workforce.

Furthermore, Wednesday marked the Illinois Electric and Telephone Cooperative Youth Day in Springfield, where over 300 students had the opportunity to learn about government processes and civic engagement. Representative Bunting met with students representing Eastern Illini Electric Co-op in Paxton, thanking Mike Wilson for coordinating the trip.

In terms of financial matters, it was noted that the total amount of unpaid bills in Illinois currently stands at $1,112,658,792, a figure that changes daily. This amount excludes unfunded debts like the state’s pension liability, which exceeds $100 billion.

The news update also featured various Illinois headlines, including the state's leadership in agriculture, the appointment of Dr. Tarhule as Illinois State University’s 21st President, and the upcoming GEDC Legislative Breakfast on April 29. Additionally, it highlighted the participation of 37 former Illinois players in the NCAA tournament and the potential switch from the SAT to the ACT for Illinois schools next year.