Illinois’ budget mess shackling growth, business leaders warn
From the Southern: The great state of Illinois has seen some notable moments over the years: The world’s first skyscraper was built in Chicago 1885, and Illinois was the first state to ratify the 13th Amendment, abolishing slavery.
Slow Start to Illinois Session Called to Solve Budget Fight
From US News: The first day of a costly special legislative session aimed at solving Illinois’ unprecedented budget crisis got off to a slow start with both the House and Senate adjourning quickly Wednesday without making any substantive progress.
Poe: We need to brag about Illinois agriculture
From the Pantagraph: Raymond Poe doesn’t want to be known as the guy who sits in an office all day as the director of the Illinois State Department of Agriculture.
Tech selloff remains a concern after Fed hike, tepid economic growth
From Market Watch: As tech shares continue to sell off, investors are focusing more on how that market-leading sector will dictate the direction of the broader benchmarks in the coming week as the Federal Reserve has signaled a commitment to tightening and economic data remain lackluster.
Tax Overhaul In Trouble As Opposition To Import Tax Grows
From Manufacturing.net: A key part of House Republicans’ plan to overhaul the way corporations pay taxes is on life support, leaving lawmakers scrambling to save one of President Donald Trump’s biggest priorities and increasing the chances the GOP will simply pass a tax cut instead of overhauling the tax code.
As the legislative clock ticks, Ryan launches push to pass sweeping tax overhaul
From the Los Angeles Times: House Speaker Paul D. Ryan launched a major push Tuesday to overhaul the tax code this year – including massive cuts – but Republicans in Congress and the White House are running out of time as they continue to battle over the details.
U.S. current-account deficit rises 2.5% to $116.8 billion in first quarter
From Market Watch: The increase in the current-account deficit in the fourth quarter was tied to a higher trade deficit in goods such as foreign autos or cellphones and a smaller surplus in primary income – returns on American-owned assets held abroad, the Bureau of Economic Analysis reported Tuesday.
Fed’s Evans Says Rate Rise Could Wait Until December
From the Wall Street Journal: Federal Reserve Bank of Chicago President Charles Evans said Tuesday that the U.S. central bank can wait until the end of the year before making the decision to raise rates again, while adding it could start reducing the size of its balance sheet before that.