Tuesday, July 10, 2012

Senator Chuck Grassley made the comment below after customer accounts at PFGBest, a futures broker, were frozen yesterday due to possible accounting irregularities.

Last year, Senator Grassley participated in oversight hearings of the Senate Agriculture Committee seeking information and accountability for the loss of up to $1.2 billion in MF Global customer funds, including money from Iowa farmers, grain coops and brokers.

Grassley comment:

"Whether there is an issue with segregated customer accounts, or it's something else, PFGBest served a lot of Iowa customers who are going to have questions about how this is going to affect their accounts.

"From a systemic standpoint, the question is whether there is effective oversight in our commodity trading system.  People need to have confidence in our commodity trading system in order for it to work for farmers and investors the way it's intended.  I want to know if the existing set up with the National Futures Association and the Commodity Futures Trade Association is working to safeguard this marketplace.  Regulators need to be on the ground working diligently to sort out what's going on, and I would expect the Senate Agriculture Committee to look into this matter in the same way it continues looking into MF Global."

Generation Opportunity encourages young Americans to call White House and demand an end to policies that stifle job creation, hiring, and opportunity

Washington, DC - (7/10/12) - Generation Opportunity, one of the largest grassroots organizations connecting with young Americans through advanced social media outreach and traditional, boots-on-the-ground organizing, is releasing today the non-seasonally adjusted (NSA) 18-29 unemployment rate data for June:
  • The youth unemployment rate for 18-29 year olds specifically (NSA) for June 2012 is 12.8 percent.
  • The declining labor participation rate has created an additional 1.735 million young adults that are not counted as "unemployed" by BLS because they are not in the labor force, meaning that those young people have given up looking for work due to the lack of jobs.
  • If the labor force participation rate were factored into the overall 18-29 youth unemployment calculation, the actual 18-29-unemployment rate would rise to 16.8 percent (NSA).

Generation Opportunity President Paul T. Conway, former Chief of Staff for the United States Department of Labor and the United States Office of Personnel Management (OPM), responds to the June 2012 jobs numbers:

"For young Americans, through no fault of their own, their story is one of few opportunities, delayed dreams, and stalled careers. Today's unemployment numbers tell the story of millions of young Americans who are paying the price for the failed policies coming out of Washington that have inhibited economic opportunity and job creation.

"Despite the challenges they face, this generation is not asking what their country can do for them. Instead, they stand ready to do more for their country, to continue their service beyond the contributions they have already made as brave defenders of freedom across the globe, as selfless rebuilders of disaster-torn communities here at home, and as confident advocates for greater opportunity for all Americans.

"While leaders in Washington travel to communities to make campaign promises and seek to place blame for the results of their failed policies, young Americans are looking for more than rhetoric.

"In 2012, their message to candidates is clear - we want to build our careers, get on with our lives, and fulfill our dreams. If the only solutions you offer mean fewer jobs and more debt for the country, the stakes are too high to risk our vote on a bad bet."

Generation Opportunity is encouraging its Facebook fans, as well as its thousands of grassroots supporters across the nation, to call the White House today at (202) 456-1414 and demand that the policies of the last three and a half years, which have stifled job creation, be reversed in favor of policies that free up Americans to create jobs, to hire, and to restore the American tradition of access to opportunity for all.

To see our Facebook call to action, go to: https://www.facebook.com/BeingAmericanByGO

ABOUT GENERATION OPPORTUNITY

Generation Opportunity is a non-profit, non-partisan 501 (c)(4) organization that seeks to engage everyone from young adults, to early career professionals, college students, young mothers and fathers, construction workers, current service men and women, veterans, entrepreneurs, and all Americans who find themselves dissatisfied with the status quo and willing to create a better tomorrow.

Generation Opportunity operates on a strategy that combines advanced social media tactics with proven field tactics to reach Americans 18-29. The organization's social media platforms - "Being American by GO," "The Constitution by GO," "Gas Prices Are Too Damn High," and "Keep Texas Awesome" on Facebook - have amassed a total fan base of more than 3.4 million. All four pages post links to relevant articles and reports from sources ranging from the federal Government Accountability Office (GAO), to The New York Times, The Washington Post, The Brookings Institution, The Wall Street Journal, The Huffington Post, and The Heritage Foundation.

Read about Generation Opportunity here; visit "Being American by GO" on Facebook here, "The Constitution by GO" on Facebook here"Gas Prices Are Too Damn High" on Facebook here, and "Keep Texas Awesome" on Facebook here.

For our Spanish-language page - Generación Oportunidad - click here.

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Washington, D.C. - Rep. Bruce Braley (IA-01) today released the following statement after President Obama proposed extending tax cuts for Americans making less than $250,000:

"The Bush tax cuts for the rich are a big reason why our nation is facing record budget deficits today.  Extending middle class tax cuts will keep money in the pockets of more Iowa families, helping to drive job creation and economic growth.  Rolling back the Bush tax cuts for the wealthiest Americans will help close the deficit.  This is a fiscally responsible compromise that deserves bipartisan support."

 

According to the Iowa Department of Revenue, in tax year 2010, 99.2 percent of Iowa taxpayers reported income under $250,000.

The cost of extending the Bush tax cuts for the wealthiest Americans (those making over $250,000 per year) is estimated at $850 billion over 10 years.

 

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Governor's Initiative to Increase Hiring Veterans Tax Credit; Provides Property Tax Relief for Spouses of Fallen Heroes

CHICAGO - July 9, 2012.  Governor Pat Quinn today signed a new law that will help more Illinois Veterans find employment following their service to our country, an important measure he proposed during his State of the State address in February.

The Hiring Veterans Tax Credit will provide a significant additional tax credit for every unemployed Veteran of Iraq and Afghanistan a company hires, which will help businesses create jobs and give those jobs to the Veterans who have sacrificed so much in serving our state and our country. Unemployment for young returning Veterans in America was 30% in 2011.

"Veterans are committed, disciplined and experienced, and they know how to accomplish a mission," Governor Quinn said. "We need these heroes in our workplaces, and increasing the Hiring Veterans Tax Credit will create more jobs for veterans and grow the economy in Illinois."

Senate Bill 3241, sponsored by State Sen. John Sullivan (D-Rushville) and State Rep. Jerry Costello (D-Belleville), raises the Illinois Hiring Veterans tax credit from 10% to 20% of annual wages and more than quadruples the annual cap from $1,200 to $5,000. Many of these post-9/11 Veterans struggle with higher rates of unemployment compared with their civilian counterparts.

In addition, the new law also honors Gold Star families of fallen heroes across Illinois by making them eligible for the same property tax-relief available in some communities to the families of fallen firefighters and police officers. The law allows counties or municipalities the option of reducing or eliminating property taxes for a surviving spouse of a fallen Illinois soldier killed in Iraq or Afghanistan in the way some choose to honor the families of fallen firefighters and police officers.

"We have a tremendous responsibility to honor the service and sacrifices Veterans and their families have made since 9/11," said IDVA Director Erica Borggren. "These measures will go a long way towards helping Veterans and the families of fallen service members begin the process of rebuilding their lives."

President Obama recently announced that more than one million service members will leave the military between now and 2016, with many thousands returning home to Illinois. Many of these young post-9/11 Veterans will be returning to sectors of the economy that were hardest hit by the Great Recession including construction, manufacturing, and transportation industries. According to the U.S. Bureau of Labor Statistics, Veterans ages 18-24 nationwide have an unemployment rate roughly twice as high as their civilian peers.

Governor Quinn launched "Operation Home Front" while he was Illinois State Treasurer to give National Guard members and reservists a tool to inform them about their rights during the Gulf War. Most recently, the Governor has expanded Operation Home Front to be a place where active servicemembers and Veterans can learn about the resources available to them and their families, and a place for the public to learn about different ways they can support our troops.

First Lady of the United States Michelle Obama recently joined Governor Quinn as he signed a new law designed to help military spouses more easily find employment when they move to Illinois for military service by granting expedited professional licenses. Illinois is the 23rd state to adopt such legislation.

For more information about benefits for our Veterans, visit Veterans.Illinois.gov or call the Illinois Department of Veterans' Affairs at 217-782-6641 or 312-814-2460.

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Washington, D.C. - Congressman Dave Loebsack today issued the following statement in response to the Department of Labor's announcement that the unemployment rate remained unchanged at 8.2 percent in June and 80,000 jobs were added.

"Today's job report makes one thing very clear- we have a long way to go to get the economy back to where it should be. To make matters even worse, Republicans have so far shown no interest in even discussing a comprehensive jobs package.  Instead, they continue to play political games, in which the real losers are Iowa's middle class families.  I have long said that fixing our economy should not be a partisan fight.  If there is one thing that should bring the two parties together, it is working to create jobs. I have been willing to sit down and work together and the fact that it hasn't yet happened is disappointing.  It's time for Congress to put our country and families ahead of politics and get down to the real work that Iowans need to see get done."

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[FREEPORT] --U.S. Reps. Don Manzullo (R-Egan) and Bobby Schilling (R-Colona) today urged the CEO of Massachusetts-based Sensata Technologies to abandon plans to offshore production to Asia and instead keep the work and the jobs in Freeport, Illinois.

In a letter sent this morning to Sensata CEO Thomas Wroe, Jr., Manzullo and Schilling expressed their concerns with Sensata's plans to shut down its Freeport plant and move the production and jobs to China. Instead, Sensata should follow the lead of other multi-national corporations who are "reshoring" American jobs -- bringing back production from overseas - to boost lead times, innovation and quality. Citizens of Freeport contacted both Manzullo and Schilling for help in appealing to Sensata to keep operations in Freeport.

"Labor costs in China are soaring, and energy costs are driving up the cost of shipping products," Manzullo and Schilling said in the letter. "We would ask that you strongly consider these factors as well as the important value of the highly skilled, highly productive workforce in the northern Illinois region that is second to none in the global economy."

The letter points out executives at Google Inc. have decided to manufacture the company's new Nexus Q home entertainment device in the United States instead of China, reportedly to speed up innovation time. According to a recent Boston Consulting survey of 106 U.S.-based manufacturing executives with sales greater than $1 billion, 37 percent were considering or planning to move production back to the United States from China.

Manzullo and Schilling added that Freeport has been a leader in innovative workforce development initiatives, such as the Work Keys program that assesses and trains workers to match the needs of area employers. The region is also supported by a superior transportation network led by United Parcel Services' second largest air cargo hub at the Chicago-Rockford International Airport, as well as the Union Pacific Railroad Global III Intermodal Hub.

"These are just some of the many reasons that we respectfully request that you reconsider your decision to move your Freeport operations," the letter stated.

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July 2, 2012                                                            

Moline, IL... Representative Rich Morthland (R-Cordova) partnered with
Riverdale Superintendent Ron Jacobs, Silvis Schools Superintendent Ray
Bergles, United Township High School Superintendent Jay Morrow, Rock
Ridge Superintendent Chester Lien, Whiteside County Regional
Superintendent Bob Sondgeroth, and Rock Island Regional Superintendent
Tammy Muerhoff, today to dispute claims from the Quinn administration
that schools can afford a pension shift. The data released in June by
the Illinois State Board of Education affirms that the proposed shift
would devastate already struggling school districts.

"This is an attack by the Governor's Office on downstate and suburban
tax payers. There is no reason to do this. This shift will either lead
to a $20 billion property tax increase or more cuts in the classroom,"
said Morthland. "Our schools have already been forced to make cuts to
athletic and music programs, close buildings, and pass on filling
vacant positions. They have little left to cut and we cannot afford to
shift more of a burden to our community and once again the plan asks
nothing of Chicago. How much more of this do they think we can take?"

As of July 1st, every school district in Illinois will be owed money
by the state that totals $800-$900 million.

"The Governor's end of the year fund balance numbers falsely suggest
that schools have millions in reserve. It is extremely misleading to
include early property taxes and restricted funds that cannot be used
to pay for pensions. The truth is that many school districts are
running deficits. What reserves they had are quickly being devoured as
they are forced to bail-out the state budget. School districts cannot
afford to prop up the state's pension system as well. Quinn and other
Chicago politicians are using this as a tactic to stall making any
meaningful pension stabilization reforms until after the November
election. This pension crisis in Illinois has been created over many
years; it is time we take responsibility and fix this mess. We need to
head back to Springfield and clean this up."
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(DES MOINES) - Gov. Terry Branstad and Lt. Gov. Reynolds today announced that they both will pay 20% of their healthcare costs beginning August 1, 2012.

"Hard-working Iowa taxpayers are accustomed to paying for some or all of their own healthcare costs, and for far too long, their tax dollars have also paid for the total cost of state employees' healthcare," said Branstad. "I truly believe the only way we will begin improving our health as a state and controlling the rising costs of healthcare is by empowering Iowans to take ownership of their own health."

Gov. Branstad signed Executive Order 78 today to allow state employees to voluntarily pay for 20% of their own healthcare. Branstad individually asked all state-wide elected officials and department heads to volunteer as well.

The governor worked with the health plan administrator and Department of Administrative Services to make this healthcare option available to all state employees.

"Our decision to begin paying 20%, and to allow employees to an opportunity to also contribute, will accomplish both goals of making employees healthier and allow for government to spend less," said Reynolds.

A single person, whom chooses to pay for 20% of their own healthcare on the least expensive plan will save taxpayers at least $1,000.

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Cuts Spending; Reforms Medicaid; Pays Bills 

CHICAGO ­- June 30, 2012. Governor Pat Quinn today reduced the budget he received Friday from the General Assembly by $57 million. After a careful review of the budget bills, the Governor enacted a $33.7 billion balanced budget. This budget cuts discretionary spending by $1.4 billion from fiscal year 2012, pays $1.3 billion of old bills, closes and consolidates 57 facilities, and restructures the state's Medicaid program while preserving the state's vital services. Governor Quinn also cut his own office budget by nine percent.

"Cutting the budget is never easy but we must make the difficult decisions necessary to restore fiscal stability to Illinois," Governor Quinn said. "This budget is a serious fiscal plan that pays our bills, closes facilities and prevents the collapse of our Medicaid system."

Reductions

Overall, this budget reduces discretionary spending by approximately $1.4 billion from the previous fiscal year.  The fiscal year 2012 discretionary budget was $25.3 billion compared to $23.9 billion for fiscal year 2013. This budget reduces overall spending at agencies under the Governor's control, including a 9 percent reduction in the Governor's office.

Governor Quinn reduced the budget through the closures and consolidations of 57 state facilities in order to improve state government efficiency and the quality of life for people with developmental disabilities and mental health challenges.  These actions will save the state approximately $82 million in fiscal year 2013, and will result in an annualized savings of at least $136 million beginning in fiscal year 2014. Illinois can no longer afford outdated, half-full, very expensive facilities.

 

Department of Corrections

Reductions to the department will be achieved through the closures of Tamms Correctional Center, Dwight Correctional Center, Southern Illinois Adult Transition Center, Decatur Adult Transition Center and Westside Adult Transition Center.

 

Department of Juvenile Justice

Reductions to the department will be achieved through the closures of the Illinois Youth Center Murphysboro and Illinois Youth Center Joliet. 

 

Department of Human Services

Reductions to the department will be achieved through the closures of Tinley Park Mental Health Center, Singer Mental Health Center and Jacksonville Developmental Center (JDC).  The Department of Human Services will begin the process of closing Murray Developmental Center once the closure of JDC is complete.  The funding in these lines will be used to ensure smooth transitions and coordinated care as individuals move from costly institutions to supportive community settings.

Governor Quinn strongly objects to the General Assembly's cuts to education and the Department of Children and Family Services, which is dedicated to protecting and saving children from abuse and neglect.  The governor will seek to reallocate funding in the fall towards protecting children.

"Our priority should always be the safety and well-being of our children," Governor Quinn said.

 

For a more detailed explanation of reductions, please see attachments.

Pension  

Under Governor Quinn's leadership, the state of Illinois has made the statutorily required pension payment every year since 2009.  The fiscal year 2013 budget continues to fully fund the pension systems.

Without major changes to our pension systems, pension costs will continue to place a tremendous strain on Illinois' budget. In fiscal year 2008, the state's pension payments were $1.8 billion, and have since grown to $5.2 billion in fiscal year 2013. These rising costs continue to squeeze all other areas of state government including education, public safety and services relied on by some of the state's most vulnerable residents.

Governor Quinn laid out a pension plan to address these rising costs and eliminate the state's unfunded liability; however, any changes require legislative action. The Governor continues to work diligently with legislators on both sides of the aisle to solve Illinois' pension challenges that continue to impact taxpayers on a daily basis.

Reforms are also needed immediately in order to make certain the men and women who have faithfully contributed to the system receive their benefits. Governor Quinn is committed to making sure the pension systems are 100 percent funded by 2042 while saving taxpayer funds. The Governor is committed to continuing to work on the issue until pension reform is accomplished.

 

Today, Governor Pat Quinn took action on the following bills:

Approved

SB 2378    General Services appropriations

SB 2413    P-12 Education appropriations

SB 2443   Higher Education appropriations

SB 2454   Human Services appropriations

SB 3802   Budget Implementation Act

Line Item and Reduction Vetoed

SB 2474   Public Safety appropriations

Reduction Vetoed

SB 2409    General Services appropriations

Line Item Vetoed

SB 2332    Capital re-appropriations

The fiscal year 2013 budget takes effect July 1, 2012.

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Approve bill that allows the I-74 Bridge project to advance

Washington, DC - Congressmen Bobby Schilling (IL-17) and Dave Loebsack (IA-02) today joined 371 of their colleagues in supporting H.R. 4348, legislation to reauthorize federal surface transportation programs.  The last transportation authorization expired in 2009, and since that time has operated on a series of nine short term extensions.  The reauthorization passed the House today in a bipartisan vote of 373-52.  

Schilling and Loebsack, representing the Quad Cities area, have worked in a bipartisan fashion to push for the longest possible transportation bill, and successfully called on the members in the House and Senate who negotiated the comprehensive highway legislation to include funding for large interstate bridge projects.  H.R. 4348 authorizes $500 million for Projects of National and Regional Significance, an important program to advance the Quad Cities' I-74 Bridge.  This provision provides the tools for the governors of Iowa and Illinois, the states' Departments of Transportation, and the states' bipartisan congressional delegation to make the case for the I-74 Bridge for inclusion in the Projects of Regional and National Significance report that will be put together by the United States Secretary of Transportation on projects to be included in this program.

"Today's transportation bill is a win for communities in Illinois and throughout America," Schilling said. "I'm pleased that the bill we voted on today provides certainty to states, communities, and the construction community of continued federal support for transportation projects, and am particularly pleased that it includes Programs of National and Regional Significance.  Dave and I have been working hard on this, and I'm hopeful that we can continue working across the river and across the aisle to move the I-74 Bridge project  and other transportation priorities forward.  Preserving our roads and bridges isn't a Republican issue or a Democrat issue, but a red, white and blue issue."

"Since the beginning of debate over the transportation bill, we have been working together to ensure a large projects initiative, which may help the I-74 bridge move toward completion, was included," said Loebsack. "Additionally, we have already started working together to best position I-74 to take advantage of this funding.  I am pleased a transportation bill has finally been passed and although it could have been done faster and it could have been longer, it will help create much needed jobs in Iowa and give Iowa communities certainty to invest in much needed infrastructure improvements and economic development initiatives."

Schilling and Loebsack in April sent letters in support of the I-74 Bridge to the Federal Highway Administration Administrator Victor Mendez and United States Transportation Secretary Ray LaHood, who in May joined the Congressmen in the Quad Cities to view the Bridge.  They sent a letter of support to House/Senate conferees in April, and reiterated their support for the longest-term bill possible and Projects of National and Regional Significance in a letter on Friday June 22.  

"The Quad Cities region has aggressively advocated for a federal transportation bill to fund nationally significant infrastructure projects, such as the new I-74 Bridge, that will strengthen the region's and nation's economic competitiveness," said Tara Barney, Quad Cities Chamber CEO. "The Chamber thanks our Congressional delegation for passing a transportation bill with bipartisan support.  We're optimistic this will result in a major federal investment to construct the new I-74 Bridge and maintain the Quad Cities' integrated transportation system, a competitive advantage that allows people and goods to move quickly and affordably by road, rail, air, water, and transit."  

In 2005, the I-74 Bridge became the most traveled bridge in the Quad Cities with an average of 77,800 vehicles crossing daily.  This is despite the fact that it was built for 48,000 such crossings.  The Bridge itself is functionally obsolete, however, and has never met Interstate standards.  The I-74 Bridge project would also spur economic growth, create construction jobs, reduce traffic backups, and improve air quality.

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