How much do Illinois state senators make?
| Illinois Senate | |
|---|---|
| Salary | $67,874/year + per diem |
| Elections | |
| Last election | November 3, 2020 |
| Next election | November 8, 2022 |
What is the salary of an Illinois representative?
| Illinois House of Representatives | |
|---|---|
| Authority | Article IV, Illinois Constitution |
| Salary | $67,836/year + per diem |
| Elections | |
| Last election | November 3, 2020 |
How much does Illinois make per year?
The 2018 total gross state product for Illinois was $857 billion, placing it fifth in the nation.
What is the hourly rate in Illinois?
| Year | Minimum Wage | Youths (under 18) (working less than 650 hours per calendar year) |
|---|---|---|
| 1/1/20 | $9.25 | $8 |
| 7/1/20 | $10 | $8 |
| 1/1/21 | $11 | $8.50 |
| 1/1/22 | $12 | $9.25 |
Where does Illinois get most of its money from?
Federal Government
What is the biggest item in Illinois state spending?
The biggest item in state spending is for highways. Most of Illinois court cases would take place in the circuit courts.
What happens when states default?
When a state defaults on a debt, the state disposes of (or ignores, depending on the viewpoint) its financial obligations/debts towards certain creditors. The immediate effect for the state is a reduction in its total debt and a reduction in payments on the interest of that debt.
What is Illinois pension debt?
The size of Illinois’ pension obligation is $214B, but the state’s pension funds have only $85B available for payouts to retirees. Illinois has the second highest unfunded pension ratio, after New Jersey.
What happens if a US state defaults on its debt?
A U.S. debt default would significantly raise the cost of doing business. It would increase the cost of borrowing for firms. They would have to pay higher interest rates on loans and bonds to compete with the higher interest rates of U.S. Treasurys.