EAST ST. LOUIS – Moody’s Investor Services has upgraded Illinois’ General Obligation Bonds for the first time in more than 20 years, and State Senator Christopher Belt (D-Swansea) and State Senator Rachelle Aud Crowe (D-Glen Carbon) are praising the General Assembly’s work to get the state to this point.

“This is another example that shows our state is working diligently to restore what has been broken in the past,” Belt said. ”I want to thank our state’s leaders and my colleagues as we have set Illinois on the path to a brighter future.”

Moody’s Investors Services, one of the primary credit rating agencies, recently upgraded Illinois’ General Obligation Bonds a step closer to the top rating. The upgrade shows a stable outlook for Illinois’ economy, meaning state borrowing will cost less, which will in turn save taxpayers money.

The analysis highlighted the Fiscal Year 2022 budget for the upgrade. Moody’s stated the increased pension contribution, repayment of emergency Federal Reserve borrowings, and constrained use of federal aid from the American Rescue Plan Act are to thank for the increased rating.

“A win for Illinois taxpayers, Moody’s upgrade signals our state is making responsible budgetary decisions,” Crowe said. “By enacting balanced budgets and prioritizing fiscal stability over recent years, Illinois is on a path toward financial recovery.”

This is the second positive rating action for Illinois in a week, following an outlook improvement from Fitch.

East St. Louis – State Senators Christopher Belt (D-Swansea) and Rachelle Aud Crowe (D-Glen Carbon) are urging local fire departments impacted by the pandemic to apply for relief grants.

“The brave men and women on the first line of defense risk their lives every day and continued to do so during the pandemic,” Belt said. “I’m pleased to see funds being spent on our firefighters who protect our communities.”

A total of $1 million will be available to assist approximately 80 impacted fire departments that operate in diverse communities throughout the state. Under this one-time grant opportunity, eligible Illinois fire departments could receive up to $15,000 in order to make up for lost donation revenues stemming from their inability to host local fundraising events during 2020. These fundraising events pay for necessities like fuel for fire trucks, utilities and insurance.

“This funding supports our first responders who lay their lives on the line every day to keep us safe,” Crowe said. “The smaller fire departments rely on funding for essential materials and these grants will benefit those that were impacted by the pandemic.”

The Office of the State Fire Marshal will collaborate with the Illinois Fire Chiefs Association to create a special committee to review the grant applications utilizing a blind review needs-based analysis.  The OSFM will facilitate and directly oversee the distribution of the grant awards to the recipients. This grant is financed through the Illinois Fire Prevention Fund.

All grant applications must be received by Aug. 13. Grant recipients are expected to receive awards by October.

To learn more about eligibility requirement and apply, people can visit the Office of the State Fire Marshal’s website.

MARYVILLE – Fitch Ratings has revised its outlook on Illinois’ General Obligation bonds from negative to positive, and State Senators Christopher Belt (D-Swansea) and Rachelle Aud Crowe (D-Glen Carbon) are commending the upgrade as a direct result of responsible spending.

“Over recent years, Illinois has made strides toward fiscal responsibility by including cost-saving initiatives in our budget, such as reducing the bill backlog,” Crowe said. “While our state continues to progress to a more financially stable position, this outlook upgrade ensures we are on a path to a brighter future.”

Fitch’s is the third ratings agency to upgrade the state’s forecast, in addition to Standard and Poor’s, and Moody’s.

According to Fitch’s analysis, the state budget for the upcoming fiscal year provides Illinois a stable foundation for further financial improvement. Recent debt payments and a reduction of nearly a billion dollars in spending since 2020—without sacrificing funding for pensions, K-12 or higher education—suggest responsible budget management and movement toward fiscal stability.

“I am thrilled to see Fitch Ratings has lifted their outlook on our state’s finances,” Belt said. “This outlook shows we are making responsible economic policy decisions and moving forward as a state from the pandemic.”

Fitch’s full analysis is available here.

East St. Louis – State Senator Christopher Belt (D-Swansea) is reminding people to look out for text and email scams asking for personal information from someone pegging themselves as the Illinois Department of Transportation.

“With the increase in hacking, residents need to be aware of who they are giving personal information to,” Belt said. “I urge everyone to take precaution when receiving a text message or email saying it’s from IDOT.”

While the messages might look official, IDOT will not request personal information, such as Social Security numbers or bank information, via text or email.

To protect personal information, take the following precautions:

• Delete unsolicited emails and texts requesting personal information or promising state driver’s licenses or IDs;
• Do not click on any links contained in such emails or texts, as they may place malware on your computer or devices;
• Hang up on any calls, including robocalls that ask you to take immediate action or provide personally identifiable information;
• Ask to use other types of identifiers besides your Social Security number;
• Keep software up to date, including operating systems and antivirus protection programs on your computer, phone and other device

“I have no respect for those who participate in fraudulent schemes,” Belt said. “IDOT will not ask for your personal information through text or email, and the department is working around the clock to keep you safe.”