Illinois Insights: An Update from Cozen O’Connor (6/7)

ILLINOIS

Pritzker signs Budget, BIMP, Bond & Revenue bills

This morning, Gov. JB Pritzker signed the Fiscal Year 2024 budget (SB 250).

Highlights from the budget package include investments in education, workforce and economic development, and efforts to fight poverty.

The Fiscal Year 2024 General Funds budget plan reflects projected revenues of $50.611 billion and expenditures of $50.428 billion, resulting in a $183 million surplus.

In addition to signing his fifth budget this morning, Gov. J.B. Pritzker also signed the following bills:

• HB 3817 – FY24 Budget Implementation Act
• HB 3551 – Bond Authorization Act of 2023
• SB 1963 – FY24 Revenue Package

AROUND THE STATE 

— Lawsuits against state can be filed in only two counties under measure signed by Gov. J.B. Pritzker: “Democratic Gov. J.B. Pritzker on Tuesday signed into law a measure that requires lawsuits challenging the constitutionality of executive orders or state laws to be filed in either Cook or Sangamon county,” by the Chicago Tribune.

— Gov. J.B. Pritzker set to sign over 500 bills passed by the Illinois General Assembly: “With 566 bills passed by the Illinois General Assembly during the spring session, Gov. J.B. Pritzker will have a pen in hand for the next few weeks,” by The Center Square.

— Secretary of State Giannoulias Charges Coinbase in Groundbreaking Suit: “Illinois Secretary of State Alexi Giannoulias and other state regulators have taken legal action against crypto exchange platform Coinbase Global, Inc. and Coinbase, Inc. for violations of securities laws,” from the Office of Alexi Giannoulias.

— Revenue rebounds in May after sluggish April, according to report: “After seeing a significant, but somewhat expected, decrease in revenue in April, state revenue rebounded in the positive direction in May, according to the latest report from the Commission on Government Forecasting and Accountability (CGFA),” by The Daily Line.

CHICAGO

Mayor Brandon Johnson and Chicago Bears President and CEO Kevin Warren issue joint statement

Following a casual, getting-to-know-you video call today, Mayor Brandon Johnson and Bears President Kevin Warren issued the following statement: “We met and discussed our shared values and commitment to the City of Chicago, the importance of deep roots, and the need for equitable community investment throughout the City. We are both committed to the idea that the City and its major civic institutions must grow and evolve together to meet the needs of the future. We look forward to continuing the dialogue around these shared values.”

MORE FROM CITY HALL 

— Minimum Wage Increase and Fair Workweek Changes Go Into Effect July 1, 2023: “Mayor Brandon Johnson and the Chicago Department of Business Affairs and Consumer Protection (BACP), announced the annual scheduled increase in Chicago’s minimum wage and a scheduled enhancement of the Fair Workweek Ordinance requirements,” from the Office of Mayor Brandon Johnson.

— Reopening city’s mental health clinics will be an important early test for Mayor Brandon Johnson: “Mayor Brandon Johnson’s inauguration pledge to reopen Chicago’s city-run mental health clinics puts him on the clock to deliver a win for advocates who have been waging that fight for more than a decade,” by the Chicago Tribune.

— Chicago Police Supt. says department is working to ‘analyze’ how crime in the city has shifted: “With public safety and gun violence on the tops of residents’ minds as the weather in Chicago gets warmer, interim supt. Fred Waller on Monday discussed the Chicago Police Department’s plans for summer safety,” by NBC 5 Chicago.

— Environmental justice leaders applaud Johnson’s decision to appeal decision overturning Southeast Side metal shredding permit: “Advocates who have been pushing for the denial of the General Iron permit for years held a news conference at City Hall Tuesday calling out the judge’s recent decision as environmental racism, applauding Johnson for his quick decision to appeal the ruling and calling on elected officials to pass legislation to bolster environmental justice in Chicago,” by The Daily Line.

— Second jobs for Chicago aldermen would be restricted or even banned under proposed ordinance: “The ability of Chicago aldermen to hold down outside jobs would be sharply curtailed under a proposed ordinance,” by the Chicago Tribune.

FEDERAL

Beltway Briefing: Congress Passes Debt-Ceiling Bill, Averting Default

After weeks of political impasse and tense negotiations, the Senate voted 63-36 to approve bipartisan legislation to raise the nation’s debt limit, sending the compromise bill to the White House ahead of a projected Monday default deadline. The result, at least until January 2025, will allow the Treasury to immediately resume paying bills with borrowed funds and it will impose spending caps on portions of the budget for two years.

Public Strategies’ Mark Alderman, Rodney Davis, and Towner French discuss this truly bipartisan success and break down the final tallies in both chambers. Also, as former VP Pence is set to launch his presidential campaign on June 7, they also ponder what impact it will have on the growing 2024 Republican primary.

Listen to the full Beltway Briefing here.

Cozen Currents: What Does Congress Do Now?

• The Fiscal Responsibility Act is passed, the debt ceiling is raised, and a DC-manufactured crisis is averted. While there are lessons to be gleaned from the theatrics, there’s  consequential legislation to come later this year that won’t necessarily follow the same political path.
• Many of 2023’s most pressing technological issues, including data transfer, artificial intelligence, and data privacy, are transnational in nature, presenting a challenge to national policymakers and requiring international cooperation to address them.
• The Republicans hold a structural advantage in 2024 over Democrats in the race for control of the Senate. With trillions in spending and taxes on the line, the GOP establishment is trying to take a more hands on approach in competitive seats without upsetting the MAGA base.

Read the Cozen Currents article here.

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