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Kane County Reporter

Thursday, January 23, 2025

Madigan concludes testimony; Chicago credit rating cut amid fiscal concerns

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State Representative Dan Ugaste (IL) | Representative Dan Ugaste (R) 65th District

State Representative Dan Ugaste (IL) | Representative Dan Ugaste (R) 65th District

Illinois House Republican Leader Tony McCombie has announced her leadership team for the 104th General Assembly. "My leadership team is built to provide a strategic advantage on how to achieve our shared objectives of creating a stronger Illinois without adding to the burdens on Illinois families," McCombie stated. She emphasized that her selections reflect diverse voices from across the state.

In legal news, former Speaker Michael Madigan concluded his testimony in his own defense. Over four days, Madigan presented nearly 12 hours of testimony, during which he was confronted with audio evidence obtained through a wiretap. This evidence allegedly ties him to influence-wielding schemes involving ComEd and other members of his political network. As the trial progresses, tensions have arisen between Madigan's counsel and that of co-defendant Mike McClain.

Concerns are mounting over Illinois' FY26 budget deficit. The Governor's Office of Management and Budget projects a $3.2 billion shortfall due to locked-in spending patterns and slow job creation affecting income tax revenue. Fiscal experts warn that further tax increases or significant budget cuts may be necessary to meet constitutional requirements for a balanced budget.

Chicago faces financial challenges as well, with Standard & Poor’s lowering its credit rating from 'BBB+' to 'BBB'. This downgrade could lead to increased borrowing costs and potential tax hikes in one of the nation's highest-taxed cities.

In criminal law, Rep. Dennis Tipsword criticized the SAFE-T Act for allowing alleged human traffickers pre-trial release after their arrests in McLean County. He vowed to continue fighting against what he described as failed criminal justice policy.

On the energy front, Constellation Energy is preparing an application for a second nuclear reactor at Clinton Plant. This move comes amid expected increases in electricity demand due to data-driven facilities' growth.

January is Radon Action Month, prompting homeowners to test for radon gas, which poses health risks if present indoors. The Illinois Emergency Management Agency encourages public awareness and testing by licensed professionals.

Lastly, State Representative Jeff Keicher invites residents to participate in an upcoming Community Blood Drive in Geneva.

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