Illinois Could Raise EV Registration Fee To $1,000, Hike Gas Tax

A bill at the Illinois legislature proposes to raise the annual registration fee for electric vehicles (EV) from US$17.50 to US$1,000 and to more than double the gas tax from 19 cents to 44 cents per gallon, under a plan to fund infrastructure advanced by Democrat State Senator Martin Sandoval.

According to the bill, introduced at the Illinois General Assembly, owners of fully electric vehicles “shall register the vehicle for a fee of $1,000 for a one-year registration period,” under the proposal that strikes out the current “In no event may the registration fee for electric vehicles exceed $18 per registration year.”

The bill also proposes to increase significantly the gas tax in the state, as well as the license fees.

EV charger

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New All-time Record Low Temperature in Illinois

Re-Blogged From WUWT

Mt. Carroll reclaims the title for the record minimum temperature in Illinois

From the Illinois State Climatologist:

Champaign, Ill., 3/6/19: An Arctic outbreak in late January 2019 led to widespread bitterly cold temperatures across much of the Upper Midwest, including Illinois. On the morning of Jan. 31, the cooperative weather observer at Mt. Carroll, located in Carroll County, reported a temperature of -38 degrees.

After a comprehensive review, the State Climate Extremes Committee (SCEC) unanimously voted to validate the -38 degrees reading as the new official state record minimum temperature. This committee ensures that the observation is meteorologically plausible, is within a range that the reporting instrument can detect, and that the instrument is in proper working order.

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Public Sector Pensions: The Parasite Devours Its Host

By John Rubino – Re-Blogged From Dollar Collapse

The Wall Street Journal recently highlighted a better method of analysing the impact of public sector pensions on state and local budgets. The results are ominous for government finances, the bond markets, and pretty much everything else:

Why Your Pension Is Doomed

A new study shows that benefits are rising faster than GDP in most states.

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Illinois’ Debt Crisis Foreshadows America’s Financial Future

By Clint Siegner – Re-Blogged From http://www.Silver-Phoenix500.com

Those wanting a glimpse into the future of our federal government’s finances should have a gander at Illinois. The state recently “resolved” a high-profile battle over its budget. Taxpayers were clubbed with a 32% hike in income taxes in an effort to shore up massive underfunding in public employee pensions, among other deficiencies.

But, predictably, it isn’t working. People are leaving the state in droves.

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DC Swamp Denizens Strike Back

By Paul Driessen – Re-Blogged From http://www.WattsUpWithThat.com

While demand for biodiesel is down, senators and crony corporatists deep-six proposed EPA reductions in biodiesel mandates

Despite what I thought were persuasive articles over the years (here, here and here, for example), corn ethanol and other biofuel mandates remain embedded in US law. As we have learned, once a government program is created, it becomes virtually impossible to eliminate, revise or even trim fat from it.

This year, it looked like this “rule of perpetuity” might finally change. The Trump-Pruitt Environmental Protection Agency proposed to use its “waiver authority” to reduce its 2018 biodiesel requirement by 15% (315 million gallons) and (possibly) lower the 2019 total down to the 1-billion-gallon minimum mandated by Congress. The proposed action would not affect corn or other ethanol production and blending requirements, despite growing problems with incorporating more ethanol into gasoline.

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Moody’s: State Pension Liabilities Hit $1.3 Trillion

From Thomson Reuters – Re-Blogged From Newsmax

U.S. state unfunded pension liabilities hit $1.3 trillion in fiscal 2016, a $56 billion or 4.5 percent increase over the previous fiscal year, Moody’s Investors Service reported.

 The credit rating agency attributed the higher adjusted net pension liability for the 50 states to underperforming investment returns, low interest rates and insufficient contributions to retirement systems for government workers.
Image: Moody's: State Pension Liabilities Hit $1.3 Trillion

Welcome To The Third World, Part 24: Illinois About To Default?

By John Rubino – Re-Blogged From Dollar Collapse

The train wreck that is the state of Illinois has generated a lot of questions lately, including “Will its government ever pass a budget?”, “Will it ever pay its overdue bills?”, and “Is it possible for a state to go bankrupt?”

Looks like we’re about to get some answers to these questions, along with one more: “What happens to the financial markets when people finally realize that Illinois is far from the only impending bankruptcy?”

Today’s Wall Street Journal has an anecdote-filled article illustrating what certainly looks like a case of terminal financial mismanagement (How Bad Is the Crisis in Illinois? It Has $14.6 Billion in Unpaid Bills):

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