Illinois Insights: An Update from Cozen O’Connor Public Strategies (7/11)
July 11, 2022
July 11, 2022
In the fiscal year that concluded on June 30, the State’s Commission on Government Forecasting and Accountability reported a “record-breaking year” of $51.070 billion in revenues overall. This comes at the end of an impressive month of $730 million in base revenues.
The 12 percent base revenue growth in FY 2022 gave lawmakers a great deal of budgetary flexibility last April — allowing them to pass a suite of election-year tax breaks, shore up Illinois’ oft-neglected “rainy day” fund, and increase pension payments. It additionally helped the state reach a zero-day accounts payable cycle for the first time in decades.
Despite this considerable progress, COGFA’S report notes that Illinois’ better-than-expected FY 2022 revenues are the result of several “atypical revenue-enhancing factors,” including an influx of federal pandemic relief funds, the “continuation of a pandemic-related shift from non-taxed service-based sales to taxable goods,” and “strong market conditions.”
Given the one-time nature of these fiscal supports, state analysts expect the influence of these factors to “wane” in FY 2023, potentially resulting in reduced revenue expectations for the new fiscal year.
June’s primary calendar ended on June 28 with five states — including Illinois, New York, Oklahoma, Colorado, and Utah — holding key contests.
In Illinois, all six statewide offices were up for election, including an open race for secretary of state after a long-time incumbent announced his retirement and a competitive Republican primary for the opportunity to challenge Governor Pritzker. Additionally, redistricting of state House, state Senate, and U.S. congressional maps led to several retirements and competitive primaries. Meanwhile, voters in the Empire State picked their candidates for governor come November, potentially setting the stage for the first female elected governor in the state’s history, and cast their ballots in other statewide races — for lieutenant governor, state attorney general, and state comptroller. Primary races for the state Assembly and judicial delegates were also on the ballot. Due to redistricting litigation, primaries for Congress and the state Senate were pushed to Aug. 23.
Public Strategies’ Chicago-based Matt Glavin and Pat Carey are joined by their New York City-based colleagues Rose Christ and Jamie Ansorge to break down the key races and discuss the potential national implications of the primaries in Illinois and New York.
You can listen to the episode here.
With the June 28 primary elections now over, several aldermanic hopefuls have already announced their campaign runs for next year’s citywide elections. Several notable contested races are detailed below:
Cozen O’Connor Public Strategies, an affiliate of the international law firm Cozen O’Connor, is a bipartisan government relations practice representing clients before the federal government and in cities and states throughout the country. With offices in Washington D.C., Richmond, Albany, New York City, Philadelphia, Harrisburg, Chicago, and Santa Monica, the firm’s public strategies professionals offer a full complement of government affairs services, including legislative and executive branch advocacy, policy analysis, assistance with government procurement and funding programs, and crisis management. Its client base spans multiple industries, including healthcare, transportation, hospitality, education, construction, energy, real estate, entertainment, financial services, and insurance.
Established in 1970, Cozen O’Connor has over 775 attorneys who help clients manage risk and make better business decisions. The firm counsels clients on their most sophisticated legal matters in all areas of the law, including litigation, corporate, and regulatory law. Representing a broad array of leading global corporations and middle-market companies, Cozen O’Connor serves its clients’ needs through 31 offices across two continents.
September 19, 2023
September 18, 2023