Illinois Jobs Could Get Help From Stimulus
Posted on February 9, 2009
If the pending federal stimulus bill passes, many Illinois jobs could be created and the state could start seeing the benefits within to weeks.
The stimulus would mean about 200,000 jobs in Illinois would be created or saved during the next two years. The stimulus also would have benefits for the unemployed, as it would increase the length and size of unemployment payments, according to an article by The Register-Mail.
The $827 billion proposed bill also would give Illinois at least $2.5 billion for Medicare and $1 billion for schools. Illinois also would get to compete for funding for other projects, such as expansion of Internet broadband, but broadband expansion and other programs will require matching funds from state government.
I think this is something that if we dont move on it in a timely fashion, it is going to get much worse, Sen. Dick Durbin said in the article.
Aside from job creation, the stimulus also would give tax breaks to individuals. Those who make up $75,000 per year would see a $500 tax break and families who make up to $140,000 would get a $1,000 tax break. The tax cuts would come in the form of a tax credit or less money taken out of each paycheck.
While the stimulus still has plenty to offer, some features have been cut because the House of Representatives and Senate cannot come to an agreement. The two biggest areas to be cut were school construction and money given to governors.
We had to make significant concessions, and those concessions will mean less money coming back to the State of Illinois, Durbin added in the article. The reason for these cuts were the demands of the Republican senators; they did not feel comfortable giving money directly to governors without strings attached.”