IVCA Provides Updates for State Legislative Issues – 7/9/2025
Illinois Venture Capital Association Illinois Legislative Report
David Stricklin / Stricklin & Associates
Wednesday, July 9, 2025
ILLINOIS BRACES FOR IMPACT
Illinois policy makers are working to address the near-term impacts of the federal reconciliation bill which passed and was signed into law over the 4th of July.
HOSPITAL ASSOCIATION WARNS AGAINST FEDERAL BILL
Alongside gutting healthcare for millions, this bill will slash funding for SNAP for working families, cuts funding for education all while increasing energy costs for families and more. While Illinois has repeatedly made clear that the state is not in a position to backfill funding for cuts to Medicaid, Gov. Pritzker remains committed to mitigating the impact to the greatest extent possible and continuing to prioritize key healthcare initiatives, such as the medical debt relief program, the birth equity initiative and implement new laws that will lower prescription costs and expand healthcare access.
Illinois U.S. Rep. Darin LaHood, R-Peoria, said Thursday that he voted for the bill in part because it will “give rocket-fuel” to the U.S. economy and “deliver historic tax relief for the American people.” “The One Big Beautiful Bill Act is a generational piece of legislation that creates more opportunities to live the American Dream,” LaHood said in a statement. “The Republican bill eliminates taxes on tips, overtime, and auto loans for hardworking Americans. This legislation invests in the future of Illinois agriculture and protects high-paying manufacturing jobs in Illinois’ 16th Congressional District while boosting local economies across central and northwest Illinois. This is a win for the 16th District and the American People.”
So far, the Democratic leadership in the state has declined to call a special session and seems prepared to wait until the regularly scheduled Veto Session to take further action.
As always, we recommend a cup of coffee and a review of the monthly COGFA report on the numbers:
COGFA DETAILS REVENUE-BUDGET-PENSIONS
OPTIMISM WANES AMONG ILLINOIS BUSINESS LEADERS
POLITICS
Governor Pritzker chose former State Rep. Christian Mitchell as his running mate for the 2026 campaign … State Senator Michael Simmons and State Rep. Hoan Huynh joined the race for the 9th District congressional race …