Illinois Insights: An update from Cozen O’Connor (8/20)

ILLINOIS

AROUND THE STATE

Pritzker, taking aim at Trump, crypto ‘bros,’ signs laws to regulate digital currency industry, crypto ATMS 

“These real-life examples of people falling prey to scammers and using cryptocurrency kiosks to send them large payments prompted Gov. JB Pritzker to sign two bills into law Monday that will allow the state to regulate the booming crypto industry. One of the new laws gives the state broad regulatory power over the crypto industry, and the other provides specific consumer protections surrounding kiosks that handle digital currency transactions,” by the Chicago Sun Times.

Raoul sues Trump administration for access to crime victim funding 

“Attorney General Kwame Raoul announced Monday that he has joined a multistate lawsuit seeking to block the Trump administration from withholding federal funding to support crime victims in Illinois due to the state’s policy on immigration,” by Capitol News Illinois.

New Illinois law aims to protect access to public education for immigrant students 

“The law, known as the Safe Schools For All Act, also pushes school districts to adopt policies outlining how schools should respond if federal immigration agents come to a campus. The law, passed at the end of May and signed by Gov. JB Pritzker last week, goes into effect Jan. 1, 2026,” by Chalkbeat Chicago.

Bipartisan group led by ex-Obama officials ‘rolling the dice’ on new remapping plan for Illinois legislature 

“A bipartisan pair of former high-level officials from President Barack Obama’s administration on Tuesday began their public push to stop state lawmakers from directly drawing their own district boundaries, a change they argue would mean more competitive elections and a General Assembly that better represents the will of the voters,” by the Chicago Tribune.

As Trump Vows to Eliminate Mail-In Voting, Illinois Elections Officials Say Fraud is ‘Extremely Rare’ 

“The Illinois State Board of Elections says it has numerous security checks in place to ensure the validity of its mail-in ballots and that voter fraud remains “extremely rare,” as President Donald Trump vows to eliminate voting by mail before the 2026 midterm elections,” by WTTW.

CHICAGO

MORE FROM CITY HALL

Borrowing, pensions and TIFs: What’s fueling the CPS budget standoff? 

“Chicago Board of Education President Sean Harden challenged the district’s new proposed budget Tuesday, expressing doubts about its heavy reliance on revenue from special taxing districts to close a $734 million deficit,” by the Chicago Tribune.

Meet The 7 Candidates Vying To Replace Ald. Walter Burnett In The 27th Ward 

“Applications to fill the aldermanic seat closed Friday. Seven people submitted complete applications, which required a resume, cover letter and at least three letters of recommendation from community leaders, business leaders or residents of the 27th Ward,” by Block Club Chicago.

With repeated flooding, Chicago alders call for action to prevent backflow into basements

“The alders are demanding the city do more than stand by and watch. They are insisting the city create a government-funded backflow valve installation program to prevent such flooding from recurring in people’s homes,” by CBS News.

Mayor Brandon Johnson got labor peace, little else from firefighters contract 

“Mayor Brandon Johnson achieved labor peace, but little else in a tentative agreement with the union representing Chicago’s 4,800 firefighters and paramedics so weighted in the union’s favor that it’s hard to imagine why it took more than four years to break the stalemate,” by the Chicago Sun Times.

RTA officials could transfer $74 million from Metra and Pace to CTA to delay city service cuts 

“On Thursday, Regional Transportation Authority board members will vote on the measure, which the oversight body said would help delay catastrophic cuts to the CTA early next year while all three transit agencies hope lawmakers will come to their rescue with more state funding,” by the Chicago Tribune.

FEDERAL

Cozen Currents – The Battle for the Soul of the Democratic Party

The Democratic Party is searching for a path out of the political wilderness after being locked out of power on the federal level in last year’s elections.

The crypto industry notched its first major legislative victory with the passage of a federal regulatory framework for stablecoins. Now, both industry and lawmakers are turning their attention to the more expansive effort to create a regulatory framework for non-stablecoin digital assets.

Read the Cozen Currents here.

Beltway Briefing – In-Conversation with RealClearMarkets Editor John Tamny

RealClearMarkets editor John Tamny joins host Howard Schweitzer to share his counter-conventional thinking on today’s most pressing economic debates. From fiscal policy to the national debt, Tamny challenges widely held assumptions and urges business and political leaders to think differently. Featuring Cozen O’Connor Public Strategies’ CEO Howard Schweitzer and RealClearMarkets’ John Tamny.

Listen to the Beltway Briefing here.

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