Editor’s note: The following text is taken from an excellent Power Point slide presentation by the Illinois Republican General Assembly Caucus.
Our poor financial condition has driven our credit ratings to the worst in state history
- Illinois is now the worst-rated state in the nation by Moody’s Investors Service.
- These downgrades are independent assessments of the state’s finances.
- Lower ratings lead to higher interest costs and result in hundreds of millions of dollars in additional spending.
- The Civic Federation estimated our low credit ratings will cost us an additional $550 million in interest costs on the money Illinois borrowed last year alone.
- We have not been upgraded since the tax increase.
Illinois has been downgraded 17 times in its entire history, most coming in the last 9 years
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Why We are Optimistic
The challenges facing Illinois are man-made.
They were created by fiscal mismanagement and policy mistakes.
They can be fixed by responsible management and wise public policy decisions.
We have identified a path that fixes the problems.
We just need leaders with the courage to take on the challenge.
Help Us. Demand the best from the Governor and his allies
Eyes on the Prize
Low taxes, jobs, financial stability are only important because they make Illinois a better place to live.
As Senate Republicans, our goal is to encourage job growth by developing an efficient, transparent, ethical state government with less regulation and lower taxes. We must leave a legacy of responsible government that will last for generations’
~ Senate Republican Mission Statement
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