fiscal cliff

fiscal cliff

'Fiscal cliff' aftermath still threatens millions in UI funding

URBANA — The last-minute agreement to avoid the "fiscal cliff" spared a popular college tax credit and averted costly Medicare reductions, but it merely postponed across-the-board spending cuts that could cost the University of Illinois $65 million next year, officials said Friday.

Johnson frustrated at lack of 'fiscal cliff' progress

URBANA — Four days from the end of his 42-year political career, U.S. Rep. Tim Johnson said Sunday he had never been so frustrated as over Congress' seeming failure to resolve the "fiscal cliff" issue.

Johnson thinks he's cast his final vote

URBANA — Retiring U.S. Rep. Tim Johnson, R-Urbana, said Thursday that he believes he has cast his last vote as a congressman.

He doesn't think he'll be going back to the Capitol to vote on a plan to avert the "fiscal cliff."

Medicare cuts ahead for hospitals if fiscal cliff negotiations fail

CHAMPAIGN — Illinois hospitals are bracing for billions of dollars in Medicare cuts as the end of the year nears without a resolution of the nation's budget conundrum dubbed the "fiscal cliff."

Carolers urge Johnson to take a stance on fiscal cliff

Traditional holiday music had a political twist to it on Thursday at a local Congressman's office as lawmakers in Washington continue to try and reach a deal on the fiscal cliff.

Fiscal cliff impact months away for cities

CHAMPAIGN — For local government, the fearsome federal fiscal cliff is more like an inconvenient fiscal slope. It would take months to get to the bottom.

Officials in Champaign and Urbana say it would certainly hurt city budgets if Congress could not reach a deal before New Year's Day to avoid automatic federal spending cuts and tax increases, but they are not sounding the alarm yet.

Fiscal cliff cuts will hurt services for at-risk students

Just because a child doesn't qualify for special education services doesn't mean he or she doesn't need a little help when it comes to reading, writing and math.

Title I, a federally funded program, helps pay for local teachers to give students a boost in those subjects, with the goal of bringing them up to grade level.

Fiscal cliff: Danville schools could lose $500,000

DANVILLE — The possibility of a Jan. 2 fiscal cliff could mean cuts of up to $500,000 for the Danville school district next year.

The school district received a little more than $5.85 million in federal funding for Title I and Title II, special education, preschool and career and technical education programs this fiscal year.

Tom Kacich: Johnson sees temporary solution for fiscal cliff

Retiring U.S. Rep. Tim Johnson agrees with his successor that the outgoing Congress is unlikely to pass a permanent solution to the so-called "fiscal cliff" tax and budget issues.

Like Congressman-elect Rodney Davis, the Urbana Republican said he is disappointed with the continuing gridlock in Washington.

Officials estimate $45 million loss for UI if fiscal cliff deal isn't reached

URBANA — Scientists in the seven laboratories at the Institute for Genomic Biology are studying the essence of life.

From gene function to the classification of life forms to climate change, more than 140 professors from across campus collaborate on federally funded research worth more than $20 million.