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    IlliniGuys Sports Spectacular (Weekend of March 1, 2025) Heartland Newsfeed

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Business & Lifestyle

Illinoisans are still waiting for their independence

More than 240 years ago, a group of individuals decided to stand up against a far-off king who taxed them without recourse. Americans honor their efforts each year on Independence Day. But the Illinois General Assembly has a funny way of celebrating. On July 2, the Illinois House passed a budget that includes the largest permanent income tax hike in state history and no structural spending reforms. The Senate concurred July 4, sending the budget plan to the governor’s desk. […]

todayJuly 4, 2017 14

Business & Lifestyle

Illinois remains on brink of becoming first state rated junk, but does pass a budget

SPRINGFIELD (Heartland Newsfeed/MarketWatch.com) -- Illinois, which currently has the lowest-rated bond rating of any U.S. state, took another step Tuesday to ward off a deepening budget crisis and an imminent risk of becoming the first state ever branded with a junk bond rating. The state entered an unprecedented third straight fiscal year without a budget on Saturday and the process has been crippled by the partisan impasse between Republican governor Bruce Rauner and Democrats who control the legislature. However, the Illinois […]

todayJuly 4, 2017 6

Business & Lifestyle

McSweeney files bill to repeal Illinois House’s permanent income tax hike

SPRINGFIELD (Heartland Newsfeed via Illinois Policy) -- One day after his chamber passed a 32% income tax hike on Illinoisans, state Rep. David McSweeney (R-Barrington Hills) filed a bill that would repeal that tax hike should it become law. The House passed Senate Bill 9 Sunday with fifteen Republicans voting in favor, which increases the personal income tax rate to 4.95% from 3.75% and hikes the corporate income tax to 7% from 5.25%, both considered an increase of 32%. McSweeney’s […]

todayJuly 4, 2017 2

Business & Lifestyle

Phelps, Reis vote to hike taxes, Severin votes no

SPRINGFIELD (Heartland Newsfeed) -- In a move that Republican leaders say cut off negotiations, the House passed a bill Sunday that nets $5.4 billion in revenue by raising income and corporate taxes and creates several new taxes on services. Rep. Brandon Phelps (D-Harrisburg) voted for the 33 percent tax hike and despite the Republican leaders’ opposition, fifteen House GOP members also voted to approve the measure, including Rep. David Reis (R-Olney) and Rep. Sara Wojcicki Jimenez (R-Leland Grove). Rep. Dave Severin […]

todayJuly 4, 2017 14

Business & Lifestyle

Illinois state Rep. Chad Hays won’t seek re-election in 2018

SPRINGFIELD (Heartland Newsfeed via Illinois Policy) -- State Rep. Chad Hays (R-Catlin) announced Monday that he will not seek re-election to his seat in 2018. He was first elected to Illinois House of Representatives in 2010 and has served in the House as assistant minority leader since 2013. The announcement comes just one day after Hays joined 14 other Illinois House Republicans in voting for a permanent income tax increase. The tax increase, which would impose $5.4 billion in higher […]

todayJuly 3, 2017 6

Business & Lifestyle

Berkshire Hathaway buys Bank of America stock, sees $11.7 billion profit

Ed Adamczyk United Press International OMAHA, Neb. (UPI) -- Berkshire Hathaway Inc. will be Bank of America's largest stockholder and will receive a profit after announcing Friday it plans to purchase 700 million shares. Berkshire will use its $5 billion in Bank of America preferred stock to purchase the common stock at $7.14 per share, well below its closing price of $24.32 per share. The preferred stock was bought in 2011; it came with a 6 percent annual dividend and a warrant allowing […]

todayJune 30, 2017 2

Business & Lifestyle

College tuition has little link to state funding, analyst determines

College tuition tends to rise regardless of how much money the state puts toward education, a new study reveals. Tuition goes up no matter what state legislators do," analyst Preston Cooper wrote after studying tuition trends for the American Enterprise Institute. "Public colleges, with state boundaries insulating them from competition, and generous federal student aid programs at their disposal, charge as much as they can get away with. Changes in state funding are largely irrelevant." In Illinois, schools needs more […]

todayJune 29, 2017 2

Business & Lifestyle

Philly DA Williams pleads to bribery, resigns as prison looms

Doug G. Ware United Press International PHILADELPHIA (UPI) -- Philadelphia District Attorney R. Seth Williams resigned from office Thursday after pleading guilty to a bribery charge in a federal corruption case that now has him facing prison time. Williams brought a sudden end to the case at Philadelphia's James A. Byrne Federal Courthouse as part of a plea agreement with prosecutors -- which mandated he plead to one count of bribery and resign from office immediately. After the plea, Williams appealed […]

todayJune 29, 2017 8

Business & Lifestyle

Raymond council handle a variety of housekeeping measures at June meetings

RAYMOND (Heartland Newsfeed) -- In the meeting of the Raymond Village Board that took place on June 5, the board voted to approve the prevailing wage ordinance, discussed a citizen’s project regarding a ditch, mosquito spraying is underway and the water tower is looking at a cleaning of the exterior among other items of discussion. Following approval of the meeting minutes from May 15 and prior minutes from April 30, the board voted to approve Ordinance 421, the prevailing wage […]

todayJune 24, 2017 9

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