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Flash Index of Illinois economy expanding, albeit at slower pace
CHAMPAIGN, Ill. – June was an uneventful month for the University of Illinois Flash Economic Index. The index retreated to 106.0 from its 106.2 level in May. The results suggest that the Illinois economy continues to expand briskly, although at a slightly slower pace than during the second half of 2005 and first quarter of […]
How will rising oil prices affect the U.S. economy?
Hadi Salehi Esfahani is a professor of economics whose research focuses on Middle East and Third-World economies. He is executive secretary of the Middle East Economic Association, a non-political organization of economists and scholars. Oil, of course, is the Middle East’s biggest industry, and the rapid increase of oil prices has raised concerns that the […]
Harshness of bankruptcy law will discourage entrepreneurs, scholar says
CHAMPAIGN, Ill. – In attempting to crack down on irresponsible debtors, the new federal bankruptcy law is also likely to ensnare entrepreneurs and other self-employed Americans whose ideas and inventions can become engines for economic growth and job creation, according to a University of Illinois scholar. Robert M. Lawless, a professor in the U. of […]
Recent bankruptcy reform measure a bust, legal expert at Illinois says
CHAMPAIGN, Ill. – Early signs of the effect of the new bankruptcy act on consumers and the courts are not encouraging, according to an expert on bankruptcy law at the University of Illinois. The Bankruptcy Abuse Prevention and Consumer Protection Act, which went into effect eight months ago, is already proving to be “a huge […]
Post-employment costs will darken Illinois retiree system outlook
CHAMPAIGN, Ill. – New accounting rules requiring state governments to disclose health-care and other non-pension retiree costs will reveal more long-term revenue shortfalls in Illinois’ retiree systems, a University of Illinois tax expert warns. After Dec. 15, 2006, Illinois and other governments with annual revenues of $100 million or more must recognize OPEB, or “other […]
Flash Index of Illinois economy rebounds, ending three-month slide
CHAMPAIGN, Ill. – The University of Illinois Flash Economic Index ended its three-month slide, increasing to 106.2 from its 105.1 level in April. While the Index is still below its eight-year high of 107.1 reached in January, the May result suggests that the Illinois economy is still expanding at a good pace. “This is consistent […]
Shifting makeup of population in Illinois certain to affect policy choices
CHAMPAIGN, Ill. – A look at the state’s changing demographics offers some clues as to how Illinois lawmakers may handle public policy choices in the future, according to researchers at the University of Illinois. While the overall population grew moderately between 1990 and 2003, increasing from 11.4 million to 12.7 million residents, major changes have […]
Federal testing for mad cow disease a failure, Law Review editor says
CHAMPAIGN, Ill. – The U.S. Agriculture Department’s mad cow disease-testing program is wholly inadequate and the agency’s refusal to let processors do their own testing further undercuts the safety of American beef, a University of Illinois scholar writes. Eating meat from cattle infected with bovine spongiform encephalopathy, or mad cow disease, can cause Creutzfeldt-Jakob disease, […]
Tax cut has complicated estate planning for wealthy families
CHAMPAIGN, Ill. – The old saw about death and taxes has taken on new meaning as state governments grapple with the confusion spawned by the 2001 federal tax cut. A little-noticed aspect of the $1.35 trillion tax cut package championed by President George W. Bush was the phase-out of state estate-tax credits, which had been […]
U. of I. Economic Index indicates economy growing, but at slower pace
CHAMPAIGN, Ill. – The University of Illinois Flash Economic Index fell again last month to 105.1 from its 105.9 reading in March. The index, which tracks the growth rate of the Illinois economy, has dropped 2 full points from an eight-year high in January 2006. A word of caution is in order. The economy is […]
Absentee ballotting fraught with risks, legal scholar says
CHAMPAIGN, Ill. – The rising popularity of absentee voting, especially the use of “no-excuse” absentee ballots, poses a risk of vote tampering and election fraud, a University of Illinois legal scholar argues. In the name of offering voters flexibility and saving the government money, more than 25 states, including California, Florida and Ohio, have enacted […]
Flash Index of Illinois economy falls for second straight month
CHAMPAIGN, Ill. – The University of Illinois Flash Economic Index fell in March to 105.9 from its 106.6 reading in February. The index has declined over the last two months from its eight-year high in January of 107.1. “The March reading suggests that the pace of economic growth in the state has slowed, but the […]