Edly-Allen highlights success of SmartBuy Program, reducing student debt and increasing housing accessibility
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GRAYSLAKE – With almost one-fifth of individuals with student loan debt being denied a mortgage due to their debt-to-income ratio, State Senator Mary Edly-Allen highlighted the importance of Illinois’ SmartBuy program in increasing housing accessibility and affordability.
SmartBuy is a first-of-its-kind initiative that, through its recent round of funding, helped 533 Illinoisans eliminate $16 million in student loan debt while also achieving the dream of homeownership in only 12 weeks. Through SmartBuy, homeowners were able to purchase a home eight years earlier than traditional IHDA borrowers.
“As chair of the Senate Higher Education Committee and an educator, I’ve seen how easing student loan debt is more than financial relief — it’s the key to unlocking homeownership for a generation burdened by higher education costs,” said Edly-Allen (D- Grayslake). “The SmartBuy program will help first-time buyers achieve their homeownership dream sooner while also building a better economy for generations to come.”
Illinois Legislative Latino Caucus statement on Armed Federal Agents in Downtown Chicago
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CHICAGO — In response to the presence of armed federal agents in downtown Chicago over the weekend, the Illinois Legislative Latino Caucus has issued the following statement:
"We condemn the presence of armed Border Patrol agents patrolling the streets of downtown Chicago. What should have been a peaceful early fall Sunday, enjoyed by families, was marred by the sight of masked, heavily armed federal agents moving through our city as if it were a war zone.
“As if their mere presence wasn’t enough, these agents went further by detaining families, creating an atmosphere of fear and intimidation. This is not about enforcing the law; it is about wielding power to intimidate, instill fear, and target individuals based on their appearance and language.
Read more: Illinois Legislative Latino Caucus statement on Armed Federal Agents in Downtown Chicago
Hastings files legislation to combat ‘cost shifting’ practices in insurance rate setting
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SPRINGFIELD — In the wake of insurance rate hikes throughout Illinois, State Senator Michael E. Hastings has filed legislation aiming to prohibit insurance companies from engaging in “cost shifting” and to strengthen protections for Illinois consumers against unfair insurance rates.
“Cost shifting is fundamentally unfair,” said Hastings (D-Frankfort). “Illinois families should not be footing the bill for losses in other states. This bill makes sure premiums reflect the real risks here in Illinois, not the costs of events thousands of miles away.”
Cost shifting is the practice of passing the costs of out-of-state catastrophes, such as hurricanes, wildfires or floods, onto Illinois policyholders. Hastings’ measure is designed to address this practice by ensuring residents are not forced to subsidize disasters outside the state’s borders.
Read more: Hastings files legislation to combat ‘cost shifting’ practices in insurance rate setting
Koehler welcomes OPmobility to Normal, 81 new full-time jobs coming to Central Illinois
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NORMAL – State Senator Dave Koehler welcomed the announcement that OPmobility will establish its first Illinois facility in Normal to assemble bumpers for Rivian’s R2, bringing new job opportunities and another critical investment to the Central Illinois region.
“This announcement underscores the strength of Central Illinois as a hub for innovation and manufacturing,” said Koehler (D-Peoria). “OPmobility’s investment will create good-paying jobs and further establish our region as a leader in the clean energy and automotive sectors.”
OPmobility’s capital investment in Rivian’s new supplier park is supported by the Senate Democrat-backed Reimagining Energy and Vehicles in Illinois (REV Illinois) program, which is designed to attract clean energy jobs to Illinois while supporting the state’s climate goals. As a result of the company’s investment in Central Illinois and the creation of over 80 new jobs, the move includes a REV Illinois tax credit tied to these commitments.
Read more: Koehler welcomes OPmobility to Normal, 81 new full-time jobs coming to Central Illinois
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