The fund was not only exhausted, but unemployment claims left it with $4.5 billion in debt, an amount that’s incurring interest such that the state paid $10 million last year.
The statement then went on to say “we’re hopeful that negotiations will continue to resolve the remaining balance of this unprecedented deficit” – a politically delicate nod to the pressures ahead.“This action will lead to the largest tax increase on business in the state of Illinois in this state’s history.
Instead, money was poured into projects and one-time crime reduction programs, largely in areas represented by Democrats – choices Democrats stand by as solid investments. Democratic Gov. J.B. Pritzker, who is running for a second term, called Republicans’ comments pre-election partisan “talking points,” something he said “drives me crazy,” even as political wings of the Democratic party issued a series of press releases flush with talking points leveling criticism at Republicans.“Every dollar that we invest in the from outside the system spares a dollar tax increase or reduction in benefits, and we’ve invested $2.