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Kendall County Times

Wednesday, June 25, 2025

Underfunded IDES assets is 'one more example of Illinois' financial mess,' Oberweis says

Oberweis

State Sen. Jim Oberweis (R-Sugar Grove) | Oberweis' Senate website

State Sen. Jim Oberweis (R-Sugar Grove) | Oberweis' Senate website

State Sen. Jim Oberweis (R-Sugar Grove) fumes that signs of Springfield’s incompetence are everywhere you look.

The latest example comes courtesy of the state Department of Employment Security, which could run out of funding as the number of residents filing unemployment claims stemming from the COVID-19 crisis swelled to more than 750,000 over less than a two-month period.

“One more example of Illinois' financial mess,” Oberweis told the Kendall County Times. “This fund is now about $8 to $10 billion underfunded and is in danger of running out of money in the next two months if we don't receive additional funds from the federal government.”

Over that seven-week period, the state has paid out more than $700 million in benefits, including $200 million over the month of March alone.

Oberweis argues the hits don’t end there.

“Businesses in Illinois are facing another big expense increase next year since they will ultimately have to make up the under-funding over time,” he said. “According to Mark Denzler of the Illinois Manufacturers Association, the state ‘experience factor’ is likely to be increased over the next several years, perhaps as much as doubling companies' unemployment costs over the next three years. And for restaurants or other businesses that had to lay off employees because of COVID-19, their experience factor may cause even faster, sharper increases unless legislation or the federal government limit this exposure.”

Now running against U.S. Rep. Lauren Underwood (D-Naperville) in the 14th Congressional District, Oberweis has based his campaign on a platform of tax reform and fiscal accountability.

“I have a long track record of opposing tax increases,” he said. “The city (Chicago) has been horribly managed for decades. Let's get the budget under control before city leaders invent a new tax that will hurt the middle class.”

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