Congratulations College Grads - Welcome To $30k in Debt

May 11, 2015
Joliet, Illinois

So your teen made it past a sea of harsh teenage unemployment, found their way to college and through hard work and perseverance they've graduated.  It is quite a feat and one that should be celebrated in the next coming months, rightly so.  But then after the celebrations are done and the hard-earned diploma is framed and placed on the wall, reality sets in, for parents and the graduate themselves... now we're stuck with $30,000 in student loan debt (this is an average debt of all students across this great nation.. many owe more)!

According to this national news source (from January 2015):
"With a rise in the number of students attending two and four-year universities comes a staggering increase in student loan debt.

To give you some context, 40 million Americans now have at least one outstanding student loan, with the average borrower carrying four different education-related loans. These numbers have pushed the student debt crisis to epic proportions, setting the amount of collectively-held student debt at an all-time high of $1.5 trillion.

This crisis has also given rise to a generation of "boomerang kids," with legions of college graduates putting off moving out, starting a family and buying a home due to overwhelming student debt. The average class of 2014 graduate left college $34,000 in the hole."

Even college organizations have lauded this fact, such as the National Organization of College Republicans (found on Twitter at @CRNC) posted about our national collegiate debt this week:

With a stagnant economy, especially in Illinois, having this high amount of college debt and the inability to secure a job to help pay off this debt, has further reaching ramifications:

As reported by U.S. News and World Report:  "In February [of 2015], the Federal Reserve Bank of New York reported that student loan balances rose to $1.16 trillion and that 11.3 percent of that is in delinquency – that is, not being paid back. The New York Fed is worried that this debt is preventing students from becoming self-sufficient adults who can live on their own.  “Student loan delinquencies and repayment problems appear to be reducing borrowers’ ability to form their own households,” wrote Donghoon Lee, research officer at the Federal Reserve Bank of New York, in a press release accompanying the Feb. 17 report."

In April of 2015, USA Today News reported 
the following on this collegiate debt crisis:

"“I’ve got student loans just like everyone else walking around,” says Craig, a senior at Old Dominion University. “I expect my debt to be around $30,000 by the time I’m done here.”

“Yes, I have student loans,” says Kyle Coghill, a junior at Old Dominion. “I’m a 22-year-old studying communications at a university. Of course I have them. I have absolutely no clue how long I’ll be paying them off. I don’t really want to think about that.”

Craig and Coghill are just two of the 40 million people across the United States who have monumental student debt, as reported by CNN. In fact, student loans have increased by 84% since the recession (from 2008 to 2014) and are the only type of consumer debt not decreasing, according to a study from Experian, which analyzed student loan trends from 2008 through 2014.  The analysis also finds that in total, a staggering $1.2 trillion is bleeding students dry."

According to a March 10, 2015 report by the Wall Street Journal, Illinois 

student debt holds true to the national trend:

So our young adults in Illinois have accumulated $49.4 Billion in debt!  This is an alarming amount of debt for young adults in the State of Illinois!  Is this you, or your child's debt?  It is still being said that having a college education is the best path towards gaining employment.  However, without strong conservative leadership across our cities, counties and at the State General Assembly, Illinois will remain an un-friendly business environment, one in which jobs will not be created to assist these young adults in reaching their true potential in society.

With the election of Governor Bruce Rauner, Illinois has taken a small step forward towards a more prosperous business-friendly and job-growth state, but this was just a baby-step, we must keep pushing forward... elections will be coming again in 2016.

Liberal policies (high taxation, over-budget spending, high regulations, high barriers to business entry) over the past few decades, have placed a stranglehold, a stagnation, on the prosperity of our state.  We must continue to look for candidates, at every level, that understand the "economics" of Illinois and put those budget and tax conscious candidates in place to continue to put Illinois back on the right path towards economic growth, for these graduates and for future graduates.

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Bob O'Dekirk Prepares For New Mayor Position Which Starts May 4, 2015

Bob O'Dekirk Prepares For New Mayor Position Which Starts May 4, 2015

From the Joliet Herald News, April 9, 2015:

"Mayor-Elect Bob O'Dekirk said Wednesday that he considers his 52 percent of Tuesday's vote in Joliet's mayoral election a mandate that will help him make changes at City Hall.  "When I talked about a change in culture at City Hall, I meant that," O'Dekirk said Wednesday during an interview about plans after being elected Tuesday.

O'Dekirk, who will be sworn in May 4, finished well ahead of incumbent Mayor Tom Giarrante, who had 39 percent of the vote, and Andy Mihelich, who had 9 percent.  "I do believe that there's a mindset that because we've done business a certain way for a long time, that's the way we're going to do it," he said.

In Joliet, the mayor is just one of nine votes on the City Council. He has no veto power. The mayor has the power to make appointments, but the City Council can block them."

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ABOUT THE CITY OF JOLIET & ITS GOVERNMENT

The City of Joliet is a "Home Rule" Municipality.  Its actions are governed by Illinois Municipal statute 625 ILCS 5/1-2.1 (see http://www.ilga.gov/legislation/ilcs/ilcs5.asp?ActID=802&ChapterID=14 )

ABOUT HOME RULE

The Illinois Constitution allows both counties and municipalities to obtain home rule status. Municipalities may adopt home rule status through referendum or obtain automatic home rule status as a consequence of having a population greater than 25,000. A county has home rule status if it has a chief executive officer elected at large and passes a home rule referendum.

Joliet Municipal Code/Ordinances (View All Local Ordinances) https://www.municode.com/library/il/joliet/codes/code_of_ordinances 

Under the 1970 Illinois Constitution, Home Rule shifts decision making from the state level (Springfield) to the local level, enabling communities to find local solutions to local problems. Home Rule communities are granted a broad range of powers for the local good unless exempted by the State. Often a Home Rule community is exempted from meeting requirements mandated by state legislation. Municipalities with populations over 25,000 are automatically granted Home Rule status, while smaller communities can put the question on a ballot and let voters decide. The majority (over 70%) of Illinois’ 12.5 million citizens live in Home Rule communities. Among Illinois communities having Home Rule, 55% attained Home Rule status by voter approval of a Home Rule referendum. No community has petitioned to revoke Home Rule status in the past 20 years.

The Illinois Constitution allows a home rule unit to “exercise any power and perform any function pertaining to its government and affairs.”  Home rule units are able to regulate and impose taxes in creative ways in order to solve local issues. However, the few checks on potential misuse of power through excessive taxation or overbearing regulatory authority is a potentially contentious issue among voters.

However, in the area of taxation, both a home rule county and a home rule municipality may impose a tax on the same item concurrently. In other words, a citizen could pay a municipal, county, and state sales tax all at the same time. Furthermore, if a home rule municipality enacts an ordinance that ensures its citizens a certain item will not be taxed, this municipal ordinance does not restrict the county from taxing that item. Conversely, a municipality cannot enact an ordinance exempting its citizens from a county tax relying on the language of the Illinois Constitution.

HOME RULE AND SALES TAX

Home rule units of local government are authorized to impose a Home Rule sales tax and certain non-home rule units of local government are authorized to impose a Non-home Rule sales tax to be collected by the department. Both taxes are imposed on the same general merchandise base as the state sales tax, excluding titled or registered tangible personal property (such as vehicles, watercraft, aircraft, trailers, and mobile homes), and qualifying food, drugs and medical appliances.

·         The Home Rule sales tax is in 0.25% increments with no maximum rate limit.

·         The Non-home Rule sales tax is in 0.25% increments with a 1% maximum rate limit.

Some Will County municipalities have a home rule sales tax ranging from 0.5% - 1.5%

The Illinois Property Tax System: A General Guide to the Local Property Tax System

http://tax.illinois.gov/publications/localgovernment/ptax1004.pdf

RELATED INFORMATION ON HOME RULE

An Illinois Supreme Court majority has ruled that a home rule municipality may enact local ordinances with different requirements than state statutes, as long as the General Assembly has not expressly exercised exclusive control over the particular subject matter of the laws.

In Palm v. 2800 Lake Shore Drive Condo Ass'n, 2013 IL 110505, a 5-2 divided court upheld a Chicago ordinance concerning requests for production of financial records from condominium associations, even though the Chicago law differs substantially from two state statutes governing the same subject.

Larry Walsh Jr.'s Inaction Costs Senior Citizens Food, Services and Assistance

Larry Walsh Jr., Illinois House Representative for District 86 (Joliet, Illinois), other than hand out fans during the summer with his father, in hopes of earning votes from Seniors, does little to help Senior Citizens of Joliet.

As reported on February 1, 2015 by the Joliet Herald News:

"Volunteers are making deliveries one day fewer a week now. Because of financial difficulties, the Senior Services Center was forced last month to cut the meal delivery program from five days to four.

That means 500 to 600 Will County senior citizens in need enrolled in the program have to find alternative meals every Wednesday.

The center’s finances may become more dire if it doesn’t find funding to pay its line of credit soon. That line of credit was cut to $400,000 in the fall after a bank review found the value of the center’s building went down, Executive Director Patricia Hensley said.

The culprit for most of the center’s financial problems is lagging state payments. The state owes between $400,000 and $500,000 in allocated funding to the center, but hasn’t kept up on payments. It’s caused a serious cash flow problem at the center, Hensley said."

Who is on the Board of Directors of the Senior Services Center? You guessed it... Larry Walsh Jr. 
See for yourself http://www.willcountyseniors.org/board-of-directors.php

As the current Illinois House Dist. 86 Representative, Larry Walsh Jr. has not contacted the former Governor Pat Quinn or the current Governor, Bruce Rauner, regarding the financial woes of the Senior Services Center.  In addition, over the past 2 years (his first full term in office from 2012-2014), he has FAILED to introduce ANY legislation to the Illinois General Assembly to address the lagging state payments.  Are we wrong? Prove it, we'll apologize!

We understand that the State of Illinois is in financial distress, but you can thank Walsh's predecessor, Jack McGuire for his 20-years of tax and spending and thank Walsh Jr. himself for doing nothing about the economy in his first full term of office.

The November 2014 election have come and gone and I guess a congratulations are in order for Larry Walsh Jr... Because he focused on nothing else!

Will County Democrats - Including Larry Walsh Sr. - Vote For Tax Increases

All Democrats vote for Property Tax Increase with Will County Executive Breaking the tie!

All Republicans voted no in the Lame Duck secession 11/20/2014

From the Will County News:

 

""Democrats try to give the perception that they are for the working class yet fight for tax increases every time. There has not been a tax the Democrats have not liked, and they are all ears to finding new ways to raise cash for a government that like a BEAST needs more and more nourishment. The Will County Board was split 13 to 13 with the deciding vote going to the Democrat County Executive Larry Walsh. The 2014 November election gave the majority back to the Republicans who will be take office in December. The Democrats still had control at the Lame Duck Secession with Executive Walsh’s vote. Democrats voted to raise the following Property Tax Levy’s:

 

1.       Corporate Fund
2.       FICA
3.       IMRF
4.       Tort Immunity Fund
5.       Workman’s Comp Reserve Fund
6.       TB Sanitarium Fund
7.       County Highway Fund
8.       County Bridge Fund
9.       Federal Aid Matching Fund

Republican control begins in December. A time of Fiscal Responsibility will return to the Will County Board. Unlike Democrats who refer to the Property tax increase as just $5 to 10 Dollars, Republicans understand the increase coupled with the other property tax increases puts an increased burden on families.

Will County Board Member Steve Balich said, “Obamacare cost for health insurance has increased with less coverage. It cost more for food, and other taxing bodies especially the schools keep raising our taxes, causing the disposable income of families to be less.” Walsh said in a Southtown Star article “For the average homeowner, the higher levy will mean paying $5.50 more per year in property tax. The levy increase includes $1.6 million more in the actual levy (a 1.5 percent increase in the Consumer Price Index) plus $1.3 million from new property.”

Before the vote, Republican board member Mike Fricilone (Republican) proposed cutting the budget $1.8 million, taken from the county’s capital improvements budget.

Republicans Jim Moustis and Steve Balich as well as a citizen from Tinley Park, pointed out that homeowners have seen property taxes continue to rise while home values go down.
“Balich said, “Everybody’s struggling right now. Any tax increase at this time is bad.”

Jim Moustis said “Will County is just one of many taxing districts in the county. This is death by a thousand cuts. Will County can go forward, in my opinion, and accomplish our goals without raising taxes. Property Tax is only about 1/3 of the total revenue sources.”

Chuck Maher saw no need to raise the budget with $100,000,000 in reserves and savings not included in the budget from re-financing Bonds at a lower rate. Contrary to a statement made by the Executives Chief of staff that Republicans said nothing in Committee; Balich said he asked to have 1cent cut from every line item during the finance committee meeting on the Budget.

Mike Fricilone said “As I stated at the Board meeting its time for the County to show some leadership and hold the line on tax increases so hopefully other taxing bodies, like the Schools, Fire Districts, Townships, Library’s etc. will take a cue from will county and stop over taxing the residents of Will county.”

 

In a Times Weekly Article Walsh said, “Republican Will County Board members didn't just vote against the 2014-15 budget Thursday but against all 11 levies needed to fund county government after Dec. 1.” This action incensed Will County Executive Larry Walsh.    As a resident of Will County I am incensed at this Property Tax increase and increases by the other taxing bodies. I can’t believe especially the schools need to have so much of my hard earned money to operate. District 33C in Homer Glen/Lockport cost $19,000 per student per year. The Fire Districts, Library, and the rest raise property Taxes to the max because they can. There is never an effort to cut the spending and taxes.

 

When asked, Mike Fricilone the Republican Caucus Whip said, “The intent was never to shut down the government.” Fricilone repeated that the County needs to take a leadership role in stopping over taxation by every taxing body.” 

 

A gentleman from Tinley Park at the Board Meeting spoke in comments from the public saying when will it end. How long before I am taxed out of my house.  These increasing taxes are un-sustainable.

 

http://thewillcountynews.com/?p=2342

https://www.youtube.com/watch?v=vwma0_nrzSw&list=UUAeFfS9qrEaDJKh9Ov5LmyA  Discussion starts 1:08 into the meeting.""

Larry Walsh Jr. Votes To Give Himself A Pay Raise on May 30th, 2014

PAY RAISE FOR WALSH JR. WHILE STATE SITS AT 3RD WORST IN NATION FOR UNEMPLOYMENT!

Illinois currently has the 3rd worst unemployment in the nation, has billions in unpaid bills and Larry Walsh Jr. (D-IL Dist.86) just voted to give himself a pay raise - a 4.6% pay raise; when seniors living on Social Security ONLY received a 1.5% cost of living increase.  The average median income across Illinois (not Joliet, not Will County, but across Illinois) is $56,000 (that is those lucky enough to be employed in this state) and Walsh Jr. voted to increase his pay, up-to earning about $70,000 per year.

SNAP (food stamp - link card food assistance) rose during his 2 years in office as a State House Rep.:
"While the number of people using the program across the country rose 2.7 percent from February 2012 to February 2013, it rose 10.5 percent in Illinois, the highest of any state, according to an analysis by the Illinois Policy Institute."

People out of work. People can't afford food and Walsh Jr. needs a pay raise? Apparently he felt that our State going from 2nd worst in the nation - in unemployment - to 3rd worst in the nation, earned him a pay raise!  Apparently so!

In addition, he doesn't work from June to November (barring a special session or veto session called by the Governor during this time).  Do you get $70-k a year while having 4 months off?  Not many of us do!

Shameful!

His vote to give himself a pay-raise can be seen here:
http://www.ilga.gov/legislation/votehistory/98/house/09800SB0274_05302014_008000T.pdf

Thanks Walsh Jr.... Living high off the taxpayer!

This is the declining median household income of the average American across the USA!

$12.3 Million in Illinois Medicaid Payments to the Dead!

In May 30th, 2014, Re-Boot Illinois Reported:

The Illinois Department of Healthcare and Family Services paid $12.3 million in Illinois Medicaid payments for 2,850 enrollees who were dead, a state audit reveals.

Auditor General William Holland’s report, released Thursday, says the department had 8,232 deceased people still listed as Medicaid eligible on its books. The payments went to 2,850 people from that list. The vast majority of the $12.3 million in payments for enrollees who had been dead more than 60 days when payments were issued.

“…$11.4 million was paid on behalf of 993 individuals whose date of death was more than 60 days prior to the payment date. In our review of the eligibility for the 993 individuals, we determined that 94 percent were aged, blind, or disabled,” the report states. (The full report is posted below along with a summary.)

The $11.4 million was in “capitation” payments — fixed-rate sums paid to providers on a per-patient basis. The report says the auditor general’s office turned over its findings to DHFS for possible referral to the Inspector General’s Office, which could pursue investigations related to the payments.

Highlights from the report:

We identified four individuals who had a large amount of fee-for-service expenditures after their date of 
death. The following summarizes these four instances:

An individual died on January 21, 1989; however, $29,860 in payments were made for 816 
services (dental, lab, hospital, etc) beginning December 5, 2005 and continued through 
October 2013, which was the last month of data used in this testing; 

An individual died on November 1, 2010; however, $8,604 in payments for homemaker 
services and emergency response fees were made through January 2013. Additionally, the 
individual was enrolled in managed care in September 2011, which continued through 
October 2013, the last month of data used in this testing; 

An individual died on March 19, 2008; however, $14,109 in payments, for medical supplies, 
were made through March 2013. Subsequently, the individual was enrolled in managed care, 
which continued through October 2013, the last month of data used in this testing; 

An individual died on May 27, 2006; however, $22,233 in payments, primarily for 
pharmacy, general clinic, outpatient, physician, and dental services, were made through May 
7, 2013. Subsequently, the individual was enrolled in managed care, which continued 
through October 2013, the last month of data used in this testing. 
We provided recipient names, provider names, and additional supporting documentation for these four 
examples to the Department for its review and possible referral to the Inspector General’s Office.

Holland also notes that payments to deceased enrollees began a sharp increase in July 2011:

The payments for capitation arrangements occurring more than 60 days after death began to increase on 
July 1, 2011, and have continued to steadily increase through the last data we received in connection with 
this testing, which was October 2013 (see Exhibit below). As of October 1, 2013, the Department 
continued to make capitation payments for 861 of the 993 individuals (87%) identified.

Illinois Auditor General William Holland found payment to 2,850 deceased Illinois Medicaid enrollees in his March 29, 2014, audit. (Click to enlarge)

Allegations of rampant Medicaid fraud in Illinois has been a frequent theme of Republican members of the Illinois General Assembly. They believe that the $2.7 billion in savings from a massive Medicaid overhaul in 2012 largely has been negated by the state’s failure to properly clear its Medicaid rolls of ineligible patients.

Holland’s findings are sure to stoke that debate.

Here is a summary of the audit:

Summary report: STATE OF ILLINOIS DEPARTMENT OF HEALTHCARE AND FAMILY SERVICES COMPLIANCE EXAMINATION

Here is Holland’s full report:

STATE OF ILLINOIS DEPARTMENT OF HEALTHCARE AND FAMILY SERVICES COMPLIANCE EXAMINATION (Full report)

Wisconsin Cuts Taxes While Illinois Struggles And Goes Deeper Into Debt

How has Larry Walsh Jr. and Pat McGuire helped Will County?  Over 2 years of service and Illinois is no better off! In April 2014 Illinois still 3rd worst in the nation for Unemployment! See the BLS website: http://www.bls.gov/web/laus/laumstrk.htm ... And Larry Walsh Jr. and Pat McGuire are helping the unemployed in Will County how (and lets not forget teen unemployment in Illinois as well)?

The Maclver Institute Reports (May 28, 2014):

"The states share a common border, but Wisconsin and Illinois are going in opposite directions when it comes to managing taxpayers' money.

Illinois is coming up on its deadline this week to pass a state budget. Unlike Wisconsin's two-year "biennium" budget process, Illinois has a one-year annual budget that must be approved by the end of May.

A report released in March from the Illinois State Comptroller has revealed some ugly numbers. For the 12th straight time, Illinois finished its fiscal year with a general fund deficit. That means that Illinois' cash flow has seen more money go out of its coffers than has come in for 12 years running. In fiscal year 2013, that shortage was over $7 billion, a burden of $1,745.86 for every Illinois taxpayer. The inability to balance the books comes even when lawmakers have the ability to delay some payments such as Medicaid until the following year. That law, Section 25 of the State Finance Act, is allowing Illinois to defer $2.3 billion to next year's bills.

Another eye-popping figure from the Comptroller's report is the overall "net position" of the state. Illinois has accrued $47 billion dollars of debt if you count all government activities against all government assets. $29 billion of that deficit has been built up in the last eight years.

The general fund and net deficits add to the pain of Illinois' nation-leading $100 billion dollar unfunded pension liability. That astronomical number works out to $7,812.50 for every man, woman, and child in the state. The pension problem was finally addressed by the state legislature last December with a reform bill signed by Gov. Pat Quinn (D-Illinois). Critics, however, believe the changes made will do little for the solvency of the state.

The pension bill will make a number of adjustments to the state's retiree system. Most notably, it will limit cost of living adjustments (COLA), cap benefits at a certain salary level, raise the retirement age for workers under 45, and require the state to contribute more funding as a guarantee that current retirees will receive benefits.

The legislation has received criticism for not doing enough to curb liabilities and is facing aggressive legal opposition from unions who question its constitutionality. The latest estimate shows that $137.4 billion will be saved over 30 years, but that is over $20 billion less than originally predicted and has very little short-term impact. Overall, savings will only reduce the $100 billion shortfall to anywhere from $75 billion to $80 billion.

A coalition of public sector unions have filed suit against the law because they believe it violates the state's constitutional ban on reducing pension benefits for public pension system members. The courts are unlikely to decide the matter before the law kicks in on June 1st, adding further confusion to reform prospects.

On taxes, Illinois recently escaped a push by Democrats to implement a progressive income tax system that would replace the existing flat tax. In April, after months of debate, Democrats and proposal figurehead state Sen. Don Harmon (D-Oak Park) failed to receive enough support for the effort and dropped the proposal.

The final plan introduced by Harmon would have amended the state constitution to allow for a progressive system and would have set tax rates at 2.9 percent for the first $12,500 of income, 4.9 percent for the next $167,500, and 6.9 percent for income over $180,000. Illinois currently has a flat income tax rate of five percent, which is meant to be a temporary increase from three percent.

Ben VanMetre, Senior Budget and Tax Policy Analyst at the non-partisan Illinois Policy Institute (IPI), told the MacIver Institute that the progressive tax plan would have been just another tax increase for Illinois residents.

"It was a long, arduous fight, and proponents of a progressive income tax structure changed their tune numerous times, especially when it came to how rates would look under a new plan," VanMetre said. "In March 2014, Harmon endorsed a rate structure that would have increased the tax bill for anyone with a taxable income of more than $22,000 per year. That's a tax hike on working and middle class Illinoisans."

A second push by Gov. Quinn to increase taxes in Illinois involves making the "temporary" income tax hikes passed in 2010 permanent. The 2010 move saw personal income taxes increase by 67 percent and corporate income taxes by 46 percent. Quinn would like the increased revenue brought in by higher taxes to help pass his proposed 2015 budget.

Additionally, IPI found that in 2012, 80 cents of every dollar from the tax increase went to pensions. Just 20 cents were left over for government services such as education, transportation, and health care.

Taxpayers will see the hikes expire in 2015 if they are not extended. According to VanMetre, keeping the tax hikes permanent would be a breach of taxpayer trust.

"Quinn is asking Illinois families to sacrifice so they can fork over even more of their hard-earned money to a dysfunctional state government. Meanwhile, he's refusing to do the same," VanMetrewrote for IPI. "Quinn would much rather prop up the status quo, waste taxpayer money and maintain sweetheart deals for special interests."

With the deadline to pass a budget coming this Saturday, it looks like Quinn will not get the taxes or budget he wants. The Illinois News Network reported on Monday that House Speaker Michael Madigan (D-Chicago) looks to have dropped plans to make the new budget consistent with permanent tax increases. Madigan reported that there was simply not enough support for either the permanent tax hike or the accompanying budget in the Democrat caucus meeting last week.

Illinois Democrats are now hammering out a "middle of the road budget" that will try to compromise Quinn's aspirational spending goals with a so-called "doomsday" budget that was rejected by the House last Friday.

Compare the Illinois crisis with Wisconsin's situation, a state that has seen a dramatic financial turnaround since starting 2011 with a budget deficit of $3.6 billion.

Responsible fiscal management in Wisconsin has led to budget surpluses and significant tax relief. After realizing three separate surpluses in 2013 and 2014, Wisconsin cut taxes three separate times and will still finish fiscal year 2015 with a $100 million surplus. The first quarterly general fund cash flow report of 2014 also demonstrates the state's ability to stay in the black on a month to month basis, unlike its neighbors to the south.

Wisconsin will reduce taxes by $1.9 billion by July 2015 according to the non-partisan Legislative Fiscal Bureau. That figure includes cutting income taxes by $746 million, property taxes by $535 million, and an overall business tax decrease of $443 million.

Businesses in both states are noticing the difference, according to responses from the 2014 U.S. Bank Small Business Survey. In the survey, Wisconsin businesses where asked for the main reason they feel better about business conditions in their state. They cited better government planning and lower taxes as their top reasons. In the same report, Illinois small businesses said that higher taxes and poor government planning were the top reasons why they feel worse about their state's economic prospects.

Looking forward, Illinois state lawmakers will be returning to the drawing board to find solutions for their widening budget and pension gaps. Meanwhile, Wisconsin taxpayers will have the comfort of fiscal sustainability going into next year's budget debate."