10 Jan 2012

Moody Gives Illinois Lowest Possible Credit Rating

By Jonathan Wallace

Wallace: "Illinois has fallen into a debt spiral..."

 

Rock Island, IL...Jonathan Wallace, candidate for State Representative in the 72nd District, released the following statement after Moody downgrades Illinois bond rating again:

 

"This news is disappointing, but not surprising. Illinois has fallen into a debt spiral, and career politicians like Pat Verschoore choose to hide their heads in the sand and ignore the problem. The downgrade, coupled with unfunded pension and retiree healthcare benefits, will result in more unpaid bills. We need to start having an adult conversation about our budget priorities in Illinois or we will continue to spiral downwards towards financial ruin.

 

"The voters of the 72nd District are paying attention, and they're tired of failed policies in Springfield. We deserve better and I am committed to reforming spending and finding new ways to save money for the sake of the next generation. When elected next November, I will make balancing the budget and restoring our state's credit rating my top priority."

 

Jonathan Wallace is running for State Representative in the 72nd District. Wallace is a former Township trustee who founded his own small business and has worked in the Illinois House.

 

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04 Jan 2012

Governor Quinn Highlights South African Trade Efforts

By Nafia Khan
Rev. Jesse Jackson to Represent Illinois at 100th Anniversary of African National Congress

CHICAGO - January 4, 2012. Governor Pat Quinn today announced that as part of his efforts to grow the economy and boost exports, Illinois-based civil rights leader Rev. Jesse Jackson will represent the state at the celebration of the 100th anniversary of the founding of the African National Congress (ANC) in South Africa next week.

"Overseas trading with fast-growing nations is a key to expanding Illinois' role in the global marketplace, creating jobs here at home and growing our economy," Governor Quinn said. "Rev. Jackson will serve as a goodwill ambassador to South Africa on behalf of Illinois as the ANC celebrates its long history of fighting for justice and equality."

The ANC was created in 1912 to preserve voting rights for black South Africans, and it later took the lead in the movement to eliminate apartheid. Rev. Jackson visited South Africa in 1979 in the midst of racial apartheid and again on Feb. 11, 1990 when Nelson Mandela was freed after spending 27 years in prison at Robin's Island. At the 1984 Democratic Convention, Rev. Jackson rallied against racial apartheid, calling it a moral disgrace and led several mass marches in the U.S. and U.K. in support of equality. He was also a member of the official U.S. delegation to witness the inauguration of Mandela to the South African Presidency in 1992. The ANC centenary ceremonies will begin a year of celebration throughout the country as it continues its political and economic transition in the 21st century.

South Africa is the top importer of Illinois products in the African region, accounting for $613 million in economic activity in 2010 - a 13 percent increase from 2009. Overall, Illinois ranks third in the U.S. among states exporting goods to South Africa. Following the country's liberation, Illinois established an international trade office that helps Illinois and South African companies to form mutually-beneficial economic partnerships.

Through the third quarter of 2011, exports to South Africa were up an additional 53 percent over 2010 levels. This growth is being driven by an increase in Illinois machinery exports to support the country's growing mining industry and investments in large infrastructure projects. South Africa produces 90 percent of the world's cobalt, 80 percent of its chromium and platinum, 70 percent of its tantalite, 64 percent of its manganese, 40 percent of its gold, 33 percent of its uranium, and at least 10 percent of the world's oil and natural gas reserves.

Today's announcement is one of several business and economic partnerships the Governor has announced as he builds upon his aggressive goal to double state exports by 2014.

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27 Dec 2011

Treasurer Fitzgerald Tapped for Chair for College Savings Plans Network

By Karen Austin

DES MOINES, IA (12/27/2011)(readMedia)-- Iowa State Treasurer Michael L. Fitzgerald was elected by his peers to serve as the new Chair of the College Savings Plans Network (CSPN). "It is an honor to accept the position as CSPN Chair," said Fitzgerald, who is also the administrator of College Savings Iowa and the Iowa Advisor 529 Plan. "As Chair, I will work to preserve the federal tax exemption on 529 plans. Billions of dollars are invested in these plans nationally and CSPN is the primary voice for families saving for college."

CSPN, a non-profit association that advocates for 529 college savings plans, provides a great online resource for families as they determine the best way to save for college. Affiliated with the National Association of State Treasurer's (NAST), CSPN brings together state administrators of 529 savings and prepaid plans as well as their private sector partners and is dedicated to framing national policy affecting 529 plans. Fitzgerald will begin his leadership role on January 1, 2012.

Treasurer Fitzgerald has been the administrator of College Savings Iowa, Iowa's 529 plan, since 1998. "With over $2 billion invested in College Savings Iowa, we're very proud of our program," stated Fitzgerald. "We've continually received high marks from organizations rating 529 plans across the nation, including savingforcollege.com and Morningstar."

529 plans are a convenient tax-advantaged way for families to save money for their children's future higher education expenses. It usually takes as little as $15 to $25 per month to start a plan, and anyone - parents, grandparents, friends and relatives - can invest in state-sponsored 529 plans on behalf of a child. Investors can withdraw their investment federally tax-free to pay for qualified higher education expenses including tuition, books, supplies and certain room and board costs at any eligible college, university, community college or accredited technical training school in the United States or abroad.

 

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27 Dec 2011

Braley Statement on House Passage of Middle Class Tax Cut Extension

By Jeff Giertz

Waterloo, IA - Rep. Bruce Braley (IA-01) today released the following statement after the US House passed by voice vote a two-month extension of the middle class payroll tax cut:

"Iowans can ill-afford any more of the partisanship that dominated the recent debate over extending the middle class tax cut.  This tax cut is just too important to job growth and our economic recovery.

 

"Thankfully, common sense has finally prevailed and the middle class tax cut will be extended for two months.  Congress must now act to extend the middle class tax cut for a full year.  I'll keep working to bring Republicans and Democrats together to get this done.  The middle class tax cut is just too important to get dragged down by Washington game-playing again."

 

# # #
27 Dec 2011

Statement From Governor Quinn on Federal Agreement To Extend Unemployment Benefits

By Nafia Khan

CHICAGO - December 22, 2011. Governor Pat Quinn today released the following statement praising a deal reached by Congress to extend unemployment benefits.

 

"I would like to commend Congress for reaching an agreement to extend unemployment benefits.  This will ensure that individuals who are looking for work will continue to receive the benefits they need.

 

"I thank President Obama for his strong leadership to reach a bi-partisan agreement that has put working families of the United States, and working families here in Illinois first.  I urge members of the House to pass this bill swiftly."

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27 Dec 2011

Braley Statement on Middle Class Tax Cut Extension Developments

By Jeff Giertz

Waterloo, IA - Rep. Bruce Braley (IA-01) today released the following statement after news reports indicated that House Republicans were on the verge of agreeing to vote on a bipartisan compromise to extend the middle class payroll tax cut for two months:

"Finally, some common sense seems to be breaking through the partisan games dominating Washington.  Extending the middle class tax cut is vital to our economic recovery and creating jobs.  Today's developments hopefully mean that middle class families can breathe easier knowing their taxes won't go up by $1,000 on January 1st.

 

"This isn't a Democratic issue or a Republican issue - it's just good for Iowa.  That's why I broke with my party last week to support the Republican plan to extend the tax cut.  It's why I supported the bipartisan Senate plan to extend the tax cut earlier this week.

 

"The sooner the House can vote on a middle class tax cut extension, the better.  I'm ready and able to come to Washington to vote for the middle class tax cut extension again.  I'm glad my third vote for this tax cut will be the charm."

 

# # #
23 Dec 2011

FOX NEWS.com FEATURES LOCAL DISTILLERY

By Ryan Burchett

LeClaire, IA, December 21, 2011 - The homegrown allure of locally made spirits has caught the attention of a national news anchor.  John Roberts, Senior National Correspondent for FOX News and former anchor and reporter for CNN and CBS News, toured Mississippi River Distilling Company in LeClaire while visiting family in the area over the weekend.  He was so enamored with the distillery and tour that he decided to tell the story to the world.

Roberts penned a "Food & Drink" feature article for FoxNews.com.  "When you walk into the tasting room, with its expansive view of the Mississippi River, you're hooked." he wrote.  Roberts contacted distillers Ryan and Garrett Burchett on Tuesday to ask a few questions for the story.

"What was really cool about talking with John is that he sincerely enjoyed his time at the distillery.  It's always fun to hear different impressions from tourists about what we're doing here.  It's a real thrill to have someone who has seen the world tell us he gets a kick out of what we're doing here and enjoys our products." said Ryan.

Garrett gave the tour to John and his family.  As mentioned in the story, John was worried that he asked too many questions.  "We get a lot of questions on every tour.  So I never thought twice about it." said Garrett. "But I guess it's not every day that you're questioned by a national news correspondent."

The brothers told John that if he makes it back to Iowa for the January Caucuses, they'd love to have him back to check on the progress of the next batch of Cody Road Bourbon Whiskey.  The whiskey was sold out while John was on his visit.

You can read John's entire article online at:
http://www.foxnews.com/leisure/2011/12/21/new-use-for-corn-in-iowa/

Mississippi River Distilling Company in LeClaire is open from 10 AM to 5 PM Monday through Saturday and from 12 to 5 PM Sundays.  Free public tours are offered daily on the hour from 12 to 4 PM or by appointment.  The tour takes visitors through the entire distilling process and ends in the Grand Tasting Room with free samples for patrons over 21 years old.  The distillery will be closed December 25 and 26 as well as January 1 for the holidays.

#####

23 Dec 2011

Braley Statement on House Vote on Middle Class Tax Cut

By Jeff Giertz

House fails to pass 2-month compromise extension of payroll tax cut 

 

Washington, DC - Today, Rep. Bruce Braley (IA-01) released the following statement after the House rejected a bipartisan agreement to extend the middle class payroll tax cut:

"Extending the middle class tax cut that keeps $1,000 in the pocket of the average Iowa family is good for the economy and good for our country.

 

"Playing politics over this issue does nothing other than put families at risk of seeing their taxes go up on January 1st.

 

"That's why I supported the Republican plan to extend the middle class tax cut last week.  And it's why I just voted with 89 out of 100 Senators, including Senators Harkin and Grassley, on a bipartisan compromise to extend the middle class tax cut.  This issue shouldn't be about Republicans or Democrats.  It's good for Iowa.  And Iowans need Congress to come together and finish the job."

 

Braley has voted in support of a middle class tax cut extension every time the issue has come up in the House for a vote.

# # #
23 Dec 2011

BOXER, GRASSLEY, TONKO CALL ON OMB TO IMMEDIATELY IMPLEMENT NEW DEFENSE CONTRACTOR SALARY BENCHMARK

By Grassley Press

Defense Contractor Salary Cap Included in Defense Authorization Bill Awaiting President Obama's Signature

Washington, D.C. - U.S. Senators Barbara Boxer (D-CA) and Chuck Grassley (R-IA) and Congressman Paul Tonko (D-NY) today called on the Office of Management and Budget (OMB) to immediately implement a new benchmark for taxpayer-funded salaries for defense contractors, especially in light of the National Defense Authorization Act's new provision that will ensure that all defense contractor employees are subject to the same limit on taxpayer-funded salaries.

Currently government contractors can charge taxpayers $693,951 for the salaries of their top five employees, based on an executive compensation benchmark last amended in 1998. Employees of government contractors outside of the top five can and do earn taxpayer-funded amounts in excess of the current benchmark.

The Administration has already told lawmakers that it considers the current cap on taxpayer-funded salaries for contractors to be "unreasonably high." But the Administration has not yet released its salary benchmark for 2011, even as 2012 quickly approaches.

In their letter, the legislators urged OMB to implement the National Defense Authorization Act's new rules quickly and provide lawmakers with regular updates on its progress in addressing this important issue.  The National Defense Authorization Act was enacted earlier this month.

The text of the letter follows:

 

December 19, 2011

The Honorable Jacob J. Lew

Director
Office of Management and Budget
725 17th Street, NW
Washington, DC 20503

 

Dear Director Lew:

We write to follow up on a letter we sent in September 2011 regarding the executive compensation benchmark for government contractors.  As we are now only days away from the start of 2012, we note that you have still not announced the new benchmark for 2011.

The National Defense Authorization Act of 2011 (NDAA) includes an important provision that extends the benchmark to all employees of defense contractors, with narrowly targeted exceptions for scientists and engineers.  While we were disappointed that the final conference language did not include the exact language of the Boxer-Grassley amendment to align the benchmark with the salary of the President of the United States, we are encouraged that real savings will result from applying the benchmark to all defense contractor employees.

As you noted in your response to our previous letter, increases in the compensation benchmark are "forcing our taxpayers to cover levels of compensation that we in the Administration view as unreasonably high."  We could not agree more with your statement - which is why we are requesting that OMB implement this law as soon as possible.

Section 803 of the NDAA requires that regulations to enforce this provision be implemented within 180 days of enactment of the law.  To ensure that new regulations are published in the Federal Acquisition Regulation (FAR) no later than July 2012, we request that you provide us, in writing, with regular updates on the FAR Council's progress in complying with the law.

We believe that taxpayers should not be on the hook for exorbitant contractor salaries, and we look forward to your prompt response.

Sincerely,

 

Barbara Boxer

United States Senator

 

Chuck Grassley

United States Senator

 

Paul D. Tonko

United States Representative

 

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23 Dec 2011

Q & A on Country of Origin Labeling

By Sen Chuck Grassley
U.S. Senator Chuck Grassley

 

Q:        Why do people have a beef with labeling the origin of the meat sold in grocery stores?

A:        A lot of people want to know where the food on their tables comes from.  Today, many food retailers are required to inform consumers about the country of origin of fresh fruits and vegetables, seafood, peanuts, pecans, macadamia nuts, ginseng, and ground muscle cuts of beef, pork, lamb, chicken and goat, thanks to legislation first passed as part of the farm bill in 2002, and updated along with the farm bill in 2008.  The origin of almost everything you buy in the United States is labeled, so it's a no-brainer to provide the same information about meat and produce.  Consumers deserve to know, and for producers, it's a positive opportunity to build consumer confidence.  Unfortunately, making the law a reality for meat labeling, in particular, was a long and difficult process.  For too long, the U.S. Department of Agriculture delayed implementation by relying on inaccurate information provided by meat processors and containing gross over-estimates about the cost of providing this information to consumers.  Before the 2008 update, congressional committees responsible for funding agricultural programs withheld funds for COOL.

Q:        What's the situation today?

A:        In November, the World Trade Organization (WTO) sided with Canada and Mexico in a challenge by those countries both to COOL rules and voluntary suggestions from the administration to provide useful origin information to consumers.  A trade dispute resolution panel of the WTO said the United States has the authority to require labeling, but the way our program works is unfair to livestock producers in Canada and Mexico.  That's baloney.  The labeling system in place in the United States gives imported livestock the same opportunity to compete in the U.S. marketplace that it had before COOL was implemented.  What's more, Canada, Mexico and other countries require country-of-origin information to be provided to consumers in their own countries.

Q:        What can be done about the WTO ruling?

A:        At this point, the panel decision either will be adopted by a WTO Dispute Settlement Body, or an appeal to the decision will be considered by a WTO Appellate Body.  Some groups are urging the administration to find a way to settle the dispute without further WTO proceedings, but it's time for top U.S. officials to appeal without delay.  In December, I urged the U.S. Trade Representative, Ron Kirk, and the U.S. Secretary of Agriculture, Iowa's former governor Tom Vilsack, to challenge the panel decision.  Eighteen other senators signed the letter which also urged these agency leaders to make sure that the COOL program meets international trade obligations while continuing to provide valuable information to consumers.  The administration's handling of this WTO dispute will be closely monitored by many of us in Congress.  I encourage them to take all necessary steps to defend our COOL regulations.  America's farmers deliver an abundant, affordable and safe food supply, and they deserve credit for it.

Monday, December 19, 2011

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