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Rockford Sun

Monday, November 25, 2024

Illinois faces budget challenges as Senate Republicans oppose new tax hikes

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State Senator Dave Syverson | Illinois General Assembly

State Senator Dave Syverson | Illinois General Assembly

The Illinois General Assembly concluded its Veto Session on November 21, with minimal legislative activity. The 103rd General Assembly is set to reconvene in early January for a "lame duck" session before the new assembly takes office on January 8.

Illinois is facing a projected budget deficit exceeding $3 billion for the next fiscal year. Republican lawmakers attribute this shortfall to increased state spending driven by temporary federal funds and Governor JB Pritzker's initiatives, including programs like free healthcare for noncitizens, costing over $1 billion annually. To support these programs, the Governor recently enacted $1 billion in tax increases.

State Senator Dave Syverson (R-Cherry Valley) urges the Governor to balance the upcoming budget without raising taxes, stating that struggling Illinoisans cannot afford additional financial burdens. He encourages residents to sign a petition on his website advocating for no new taxes.

As winter approaches, Illinois residents should anticipate higher heating bills compared to last year. The U.S. Energy Information Administration predicts rising natural gas and electricity costs due to expected colder temperatures. Households may see a $10 to $15 monthly increase in natural gas bills. Residents can manage costs by sealing drafts and using programmable thermostats or applying for assistance through the Low Income Home Energy Assistance Program (LIHEAP).

Illinois workers now have an improved method to recover unpaid wages through a collaboration between the Illinois State Treasurer’s Office and the Illinois Department of Labor (IDOL). A change in state law allows IDOL to transfer unclaimed wages to the Treasurer’s Office after three years if workers cannot be located. These funds are added to the Treasurer’s Unclaimed Property Trust Fund, allowing workers to search for their money on the I-CASH website.

Thanksgiving dinner costs remain high despite some relief in turkey prices. In Illinois, the average cost of Thanksgiving dinner for ten people is $62.84, according to GOBankingRates. Turkey prices have decreased due to increased production and fewer avian flu cases, but other staples like stuffing and sweet potatoes remain costly compared to pre-pandemic levels.

Families looking to save can find special deals at retailers or compare store-brand options with name brands for additional savings. However, experts warn about "shrinkflation," where package sizes are reduced while prices stay constant.

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