Recent budgetary cuts unilaterally forced by Illinois Gov. Bruce Rauner to help a state in the red have created less access to child care.
According to a new report released by the National Women’s Law Center, Illinois is in last place when it comes to working families’ access to child care. Rauner has cut Child Care Assistance Program, and the Land of Lincoln is the only state to freeze child care intake this year.
Families with incomes above 50 percent of the federal poverty level are now being turned away. This means a single mother of two children can only access child care assistance in Illinois if she makes no more than $838 per month.
Before Rauner’s cuts, a single parent of one child who earned up to 185 percent of the federal poverty level, or $3,098 per month, had access to child care assistance.
U.S. home sales are up 5 percent during the first nine months of the year compared to the first three quarters of 2014. Economists say these sales gains are more sustainable than last year’s growth, as three years of solid hiring and historically low mortgage rates have enabled more Americans to buy homes. Read more here.
General Motors is issuing a recall after two previous recalls didn’t fix oil leaks that have been discovered to be a fire hazard. The recall involves 1.4 million vehicles that date back to 1997. GM said more than 1,300 cars caught fire after they were fixed by dealers. Learn more here.
Peabody Energy Corp. has reported a loss of $304.7 million during the third quarter. The St. Louis-based company’s losses equated to $8.13 per share. Find out more here.
-Will Buss, BND business writer