Patch on Politics

We're No. 1 — Illinois Has Nation's Worst Credit Rating

Despite 2011's 67 percent state income tax hike — which took a week's pay away from you — the state's financial problems have worsened.

Illinois now has the lowest credit rating of all 50 states. Standard & Poor’s rating services downgraded Illinois’ credit rating last week to A-, with a negative outlook.  State Treasurer Dan Rutherford, who blamed the negative rating on inaction on the public pension system by Gov. Pat Quinn and the General Assembly, said Illinois is headed for "fiscal disaster." He said the lower rating will force the state to fork over more money on interest payments. This will affect state universities, road construction and other public institutions because more will go to interest than principal as these projects are paid for. “If you went out to borrow $500 because you have such bad credit, it will cost $95 more in interest than better-rated states…

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Treasurer Dan Rutherford Launches Unclaimed Property Auction

Auction will last seven days.

State Treasurer Dan Rutherford announced the start of the Illinois Treasurer’s Online Unclaimed Property Auction.   The auction starts at 10 a.m. Monday, March 26 and will begin closing at 6 p.m. Sunday, April 1.  “We are auctioning off 14,866 pieces of unclaimed property in the Illinois Treasurer’s Online Unclaimed Property Auction because the rightful owners have not come forward to claim the items in more than five years,” said Rutherford.  “We have a wide variety of interesting items to sell in this auction.  You’ll find anything from a diamond ring and loose jewels to coin lots — there’s something that appeals to everyone.”  All items for sale in this auction have been appraised by an outside vendor. The sale price of each lot must …

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Is the State Holding onto Your Money?

The village will partner with the Illinois treasurer’s office to hunt for unclaimed assets through the state’s Cash Dash program.

Illinois State Treasurer Dan Rutherford’s office will bring the state’s Cash Dash program to Romeoville on Tuesday, June 28, the village announced in a press release. The program is intended to reunite Illinois residents with unclaimed assets, from forgotten bank accounts to payroll wages and even entire estates. Representatives from Rutherford’s office will use the state’s databases to conduct searches for unclaimed property from 2 to 3 p.m. Tuesday at Village Hall, 1050 W. Romeo Road. Residents are encouraged to bring their Social Security card and a photo ID to the June 28 event. For more information or to conduct your own online search, visit www.treasurer.il.gov and follow the Cash Dash link.

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