Stadelman support brings local businesses more relief

The state's Back 2 Business program has awarded another $3.4 million to dozens of Rockford-area businesses thanks to the advocacy of State Senator Steve Stadelman.

“Businesses need our support, and this money helps them make a full recovery and get back on their feet,” Stadelman said. “Assistance from the Back 2 Business program allows businesses to keep their doors open and pay employees, which benefits the entire community."

B2B grants are awarded by the Illinois Department of Commerce and Economic Opportunity using funds allocated to them by the American Rescue Plan through last year’s state budget. So far, CEO has provided $200 million in B2B grants to small businesses throughout the state with an emphasis on disproportionately impacted areas. With nearly $50 million left to go, more businesses will have the opportunity to get a share of the relief funds.

Grants continue to be awarded on a rolling basis. Visit the DCEO website for more information on the B2B program or to check the status of an existing application by logging into the portal.
 

Stadelman backs tax credit for working families with kids in college

Affording higher education could get easier for middle class students in Illinois, thanks to a new measure supported by State Senator Steve Stadelman and approved this week in the Illinois Senate. The legilsation would allow a taxpayer who either is a student or claims one or more students as dependents to earn a tax credit of up to $1,000 toward tuition and fees for Illinois public institutions of higher education.

"We offer many ways to make higher education more affordable for children of low-income families but few to provide assistance to middle-class families," Stadelman said. Senate Bill 1145, now pending in the Illinois House of Representatives, would offer “relief to working parents whose incomes prevent them from applying for most financial assistance but who still face tremendous strain when sending their children to college."

Stadelman helps pass landmark $4.1 million debt payoff

More than $4 billion in debt will be paid off -- saving taxpayers hundreds of millions of dollars in interest payments -- as a result of legislation supported by State Senator Steve Stadelman and signed Thursday by the governor.

Watchdog groups like Civic Federation praised Senate Bill 2803 as a milestone that puts Illinois “in a much stronger financial position than it has been for many years.” The legislation delivers on key priorities of Stadelman and other lawmakers including multiple recommendations from Civic Federation:

• $2.7 billion to support small business balance sheets through assisting the unemployment insurance trust fund;
• $898 million in legacy debt for state employee health insurance, money that previous administrations have punted from one budget to the next;
• an extra $300 million payment to our state’s pension funds, which will reduce liabilities by $1 billion between now and 2045.

Senate Bill 2803 also provides more than $200 million to pay off College Illinois, the 1990s prepaid tuition program for Illinois families that has been on the verge of insolvency for years. This one-time payment will save taxpayers $75 million in unnecessary costs over the remaining life of the program.

“This legislation represents a clear and resolute commitment by the General Assembly to paying down debt and paying bills in a timely manner,” Stadelman said. “At the same time, we are protecting employers from higher taxes and employees from benefit cuts by dedicating $2.7 billion to the unemployment trust fund.”

At the start of the current administration in 2019, Illinois had a $3.2 billion deficit and $7.9 billion in unpaid bills including $1.2 billion in late payment penalties. Illinois had suffered eight credit rating downgrades in the years 2015 to 2017, and the state’s credit rating hovered at just one notch above junk status.
 

Highway 251 in Roscoe is officially the Brandon Rowe Memorial Highway. The Army Specialist was killed in 2003 in the war in Iraq. So happy the state granted the request of his mother, Wendy Borowski, and family members to dedicate the portion of the highway in his memory.