Rock Island Today

State budget discussions are underway in Illinois as House and Senate appropriations committees work on the fiscal plan for the year starting July 1. This process is taking place amid concerns from the Commission on Government Forecasting and Accountability (COGFA), which has projected a $737 million budget shortfall for next year. The agency attributes this to weak private-sector job growth, which could lead to slower tax revenue growth than anticipated by Governor Pritzker's proposed budget.

The COGFA report suggests a cautious approach due to various economic factors, including lower-than-expected corporate income taxes and reduced sales tax receipts. "At this time, the Commission feels that a more cautious approach is warranted," states the report. It also highlights that Illinois has underperformed economically compared to other states over the past two decades.

In energy news, residents of Illinois should prepare for increased electricity prices this summer. According to Midcontinent Independent System Operator (MISO), peak-load electrical supply prices may rise significantly due to changes in power generation sources. Ameren, a major utility provider in central Illinois, expects costs to increase by about 50%, resulting in consumer electric bills being 18% to 22% higher than last summer.

Additionally, Representative Dan Swanson is promoting literacy through his summer reading program for students from kindergarten to fifth grade. Participants who read at least eight books can attend an ice cream party at the end of summer vacation.

Finally, during National Small Business Week, Swanson encourages supporting local entrepreneurs who contribute significantly to community growth and innovation.