Illinois Chamber of Commerce President and CEO Todd Maisch remains hopeful that the state will come to an agreement on the budget.
Business growth across the state has been stagnant without a proper state budget in place. Maisch believes having a state budget can lead to an economic boost.
“I’m more hopeful than I have been,” Masich said during a Mount Zion Chamber of Commerce Luncheon. “It looks like at least a partial end game is possible to the madness in Springfield.”
According to Herald & Review, some of the components being discussed for the budget include a tax increase, a short-term property tax freeze, and changes to workers’ compensation laws. The biggest concern is the new proposal to overhaul how Illinois funds elementary and secondary schools. Also, a possible minimum wage increase could hurt small business owners, according to Maisch.
House Speaker Mike Madigan’s (D-Chicago) recent behavior seems to be a sign that a budget deal is in the near future. Maisch said he seems to be more open to supporting economic growth measures than he previously was.
Business owners who have been most affected are being reassured by Maisch.
“We can snap back very quickly,” he said. “We’ve got a lot of damage to repair.”