Illinois Comptroller Judy Baar Topinka estimates a $1 billion impact on the state budget if automatic federal spending cuts and tax increases take effect.
Topinka sent out a release Friday detailing the impact on the Illinois budget if Congress and President Barack Obama don't prevent the federal government from going over the fiscal cliff. Topinka says the fallout from the fiscal cliff could push Illinois into recession. Topinka estimates Social Security and income tax increases would lower Illinois tax revenues by up to $500 million.
Wealthy Republican donors started Christmas early.
Somewhat uncharacteristically, GOP donor David Humphreys donated $25 thousand to Democratic Governor Jay Nixon on Friday.
Humphreys is the head of a Joplin based roofing company and usually donates exclusively to Republicans – in fact, he donated about 1 and a half million dollars to conservatives and conservative organizations just this year.
Nixon was the only major Democrat Humphreys supported.