State Senator Matt Murphy 27 th Senate District SPRINGFIELD UPDATE: SPRING 2016 State Senator Matt Murphy 27 th District.

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Presentation transcript:

State Senator Matt Murphy 27 th Senate District SPRINGFIELD UPDATE: SPRING 2016 State Senator Matt Murphy 27 th District

JOB GROWTH: MARCH 2001 – MARCH 2016 Illinois -33,700 *The nation as a whole has added 11,022,000 jobs over the same period.

UNEMPLOYMENT RATE CHART Nationally, per BLS, Illinois ranks 48 th. Bureau of Labor Statistics

LAGGING JOB GROWTH According to the Bureau of Labor Statistics, Illinois’ job growth lags behind surrounding states.

MANUFACTURING JOB LOSS Illinois’ manufacturing performance also trails behind competing states, as Illinois was the only Great Lakes manufacturing state to lose factory jobs in 2015.

ILLINOIS’ SHRINKING POPULATION Census data shows that Illinois was the only state in the region with a shrinking population.

SHRINKING POPULATION CONT. Illinois witnessed the greatest loss of taxpayers and dependents among all the Midwestern states over the past four years.

PROPERTY TAX RATES The Tax Foundation found Illinois to have the second highest property tax rate in the nation.

ILLINOIS RATE RANKING SINCE findings by the Oregon Department of Consumer and Business Services

2014 PREMIUM PER $100 PAYROLL IN COMPETING STATES 2014 findings by the Oregon Department of Consumer and Business Services

HISTORICAL UNFUNDED PENSION LIABILITIES, FY2000-FY % INCREASE OVER FY2000

ILLINOIS’ PENSION CRISIS  In 2015, the Illinois Supreme Court struck down a pension reform law.  Illinois’ unfunded pension liability has now reached $111 billion.  That breaks down to more than $8,000 per resident.  The newest figure is up from about $105 billion in 2014 and about $98 billion in  Including debt service on pension bonds, liabilities reach $130 billion.  Years of missed pension payments and mismanagement resulted in our current pension crisis.

THE BUDGET

WHERE DOES THE STATE GET ITS GRF REVENUE?

FIVE AGENCIES CONSUME OVER 80% OF APPROPRIATED SPENDING.

WHERE DOES THE FY16 BUDGET STAND TODAY?

CONTACT MY OFFICE Call: ( 847) District Office: 1 East Northwest Highway, Ste. 109 Palatine, IL Website: senatormattmurphy.com