House members did most of our work in committees this week, considering legislation to advance for full debate on the House floor. The House Public Utilities Committee this week said that the state should consider bringing more nuclear plants online. While this wouldn’t bring immediate relief for consumers struggling with high energy bills, it could be a promising development for energy reliability and affordability in the long term.
Three of the bills I am co-sponsoring to protect children in the care of the state have been assigned to the Appropriations-Health and Human Services Committee for consideration in the coming weeks. Bills I have introduced on composting guidelines (HB3277), all-terrain vehicle plates (HB 2980), and probate protections (HB3409) have also been assigned for consideration in standing committees.
Many of the bills I introduce each year come from suggestions made by constituents, so if you have an idea for legislation that would help fix a problem, or just improve the quality of life in our communities, give my office a call. I would like to discuss it with you.
Illinois’ credit rating upgraded from worst to tied for worst
Illinois’ credit rating got upgraded from worst in the country to tying with New Jersey for the worst. For a seventh time in two years, Illinois’ credit rating was increased recently with the announcement from S&P Global ratings.
Illinois’ outstanding $27.7 billion GO bonds were upgraded from BBB+, the worst in the country, to A-, tied with New Jersey GO bond ratings. The last time Illinois had the A- rating was in December 2015.
The state’s appropriation-backed debt saw an increase from BBB to BBB+ and moral obligation debt from B+ to BBB-. Build Illinois bonds, paid for with gas tax and other fee increases, goes from A- to A.
Illinois’ credit upgrade cannot fully make up for the effect of rising global interest rates. Illinois taxpayers will continue to pay higher interest rates in 2023 on the State’s outstanding multi-billion-dollar debt load than was paid in 2022 and previous years.
Madigan corruption trial update
Former Illinois House Speaker Michael Madigan, facing Federal corruption charges, has asked a judge to toss out the majority of the charges against him.
Celebrate Women’s History Month
March is Women’s History Month — a celebration of the great women who have led our nation forward throughout history. Join us in recognizing the amazing achievements of women from Illinois and across the U.S. this month. Happy Women’s History Month!