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Prairie State Wire

Sunday, November 24, 2024

The economy will not make a full recovery until at least 2023, report says

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Rep. Tim Butler | Facebook

Rep. Tim Butler | Facebook

According to a new report, the economy won't make a full recovery until at least 2023.

IL House GOP tweeted, “we have to get Illinois on the path toward fiscal responsibility to make our state a place where families, communities, and businesses can grow and thrive.”

The State of Illinois Economic Forecast February 2021 report revealed that a shrinking population year after year brings out major challenges to fixing the economy. Without a strong local economy, there won't be an improvement in the state's already weak finances.

In an interview with Fox, Rep. Tim Butler said that the state had to solve its fiscal problems with a budget that would enable them to also invest in the human capital of the state government.

The state of Illinois is Springfield's single largest employer. The local economy has to be good to attract jobs and more people to add to the population.

Scott Dahl of the Springfield Convention and Visitors' Bureau, in the same interview, said that Capitol visitors, number by the thousands, some of them came from out of state, and these visitors boost the economy by patronizing local businesses. Dahl said that “getting lawmakers back physically to the statehouses is key for recovery across the capital city.”

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