Observations and comments about state government by State Representative Robert W. Pritchard.
March 17, 2014
In This Issue:
Proud to be an American
Ag Day in the Statehouse
Community Leaders Urged to Focus on Strengths
Local Business Climate Important for Attracting Jobs
Test Your Smoke Alarms
Potholes
New Report Shows Taxpayer Charge for Poor Credit Rating
Proud to be an American
Some people call it Election Day, but I like to think of it as the day citizens show how proud they are to be an American. Your voice is never louder than when you choose to cast your vote in an election. In the process you also are telling every service man and woman thanks for “giving me that right.” There is still time to vote today and tomorrow!
Ag Day in the Statehouse
The weather started to show life of spring at the Statehouse recently when we celebrated agriculture day. Officially March 25, National Ag Day is a time to recognize our food production industry and the new technology that allows farmers to feed an ever growing world population.
At a rally, I commented on the FFA youth organization and the baskets of Illinois grown foods they were distributing. Click “Here” to listen to Representative Pritchard discuss the importance of Ag Day at the capitol.
Community Leaders Urged to Focus on Strengths
For years Illinois citizens and business owners have suffered embarrassment over political corruption, high taxes and fees, antibusiness rhetoric, and failed fiscal policies. The head of the Illinois Chamber told local community leaders its time to look past these headwinds and take advantage of our strengths. He spoke to a community leaders’ breakfast hosted by the Sycamore Chamber with Senator Dave Syverson and me.
Doug Whitley, Executive Director of the Chamber, enumerated a dozen or more assets he felt made Illinois a great place to do business. For one, he listed all the natural and man-made assets offered here such as waterways, railroads, airports, and highways. We have some of the most extensive infrastructure in the country that connect us to all parts of the continental U.S. and the world. Our internet connectivity and computing power are unmatched.
There is also a great source of energy in Illinois from coal to oil and natural gas deposits that fracking legislation will soon provide access. These fuels combined with biofuels from the agriculture sector help to make Illinois energy very cost competitive. Another advantage according to Whitley is population density that puts millions of consumers at our door step. Our educated and skilled workforce combined with some of the nation’s best research institutions make this a great place to find the best employee talent. So be positive about where you live and work he stated.
Local Business Climate Important for Attracting New Jobs
The joint House Committee looking into ways to attract more employers to Illinois has generated mountains of reports and data. You can see a portion of the material I am reviewing this week.
Among the data are tips that local units of government as well as state agencies should avoid. Government regulations and permits tend to slow business decisions and add to costs.
Look for ways to speed up operations, combine government reviews and adopt more efficient ways of doing business. Limit fees to a reasonable cost for providing the oversight. Finally, international building codes are often adopted without concern for the resulting cost or benefit to the builder or consumer. If you would like to read some of the testimony and supporting documents you can do so on the ILGA website.
Test Your Smoke Alarms
Recent house fires should be reminder enough about the importance of smoke detectors. Nevertheless, the National Fire Protection Association says roughly two-thirds of home fire deaths occur in homes without functioning smoke alarms. The association offers the following guidelines about smoke alarms:
Press the test button on smoke alarms at least once a month to see if it is operating.
Make sure everyone in the home understands the sound of the smoke alarm and knows how to respond.
Replace the smoke alarm immediately if it doesn’t respond properly when tested.
Smoke alarms with non-replaceable (long-life) batteries are designed to remain effective for up to 10 years. If the alarm chirps, a warning that the battery is low, replace the entire smoke alarm right away.
For smoke alarms with any other type of battery, replace batteries at least once a year. If the alarm chirps, replace only the battery.
Potholes
They are everywhere and an undeniable sign of spring. Aging concrete and asphalt mixed with moisture and freezing and thawing temperatures, are causing one of the worst winters for Illinois motorists.
The capitol bonding bill which provided money for road projects ends this year. Consequently much of Illinois’ 145,342 miles of road and highway surface could go unrepaired.
The General Assembly is likely to be asked in the near future for supplemental funding for Illinois roads. The picture from the Chicago Sun Times pretty much sums up how bad the problem is getting. You can see the original photo and caption from the Sun Times here.
New Report Shows Taxpayers’ Charge for Poor Credit Rating
The Institute of Government and Public Affairs, an affiliate of the University of Illinois, has found that taxpayers paid an extra $80 million in interest charges for borrowed money. The report covers the five years from 2008 into 2013 and tracks Illinois’ debt issuances and the interest rates the State and its taxpayers were required to pay by the marketplace.
General obligation debt, the debt sold by Illinois for most capital infrastructure purposes, is currently ranked by Wall Street in the lower half of investment-grade securities. For example, Moody’s (the world’s largest credit-rating firm) currently ranks Illinois as A3 with a negative outlook, four notches above non-investment-grade level. The City of Chicago is currently ranked by the same firm as Baa3, three notches above “junk bond” level.
Investors traditionally demand higher interest rate payments and premiums from borrowers with subpar credit ratings. The $80 million difference tabbed by the Fiscal Futures Project of the Institute of Government and Public Affairs represents the difference between the interest rates actually paid by the State of Illinois and the collective interest rates paid by all 50 states.
Many of Illinois’ neighboring states have less debt, lower structural deficits (or even fiscal surpluses), and much higher credit ratings than Illinois. For example, Moody’s has awarded Indiana its coveted “AAA” rating, the highest rank available.
I will be traveling to Springfield after the election with a new chauffer. My wife Mary is driving me around while I recover from rotator cuff surgery and rehab. I now have real empathy for all of you who have had this surgery.
Bob
District Office 815-748-3494 or E-Mail to bob@pritchardstaterep.com
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