Illinois State Treasurer Michael Frerichs reports the state’s investment portfolio has generated over $5 billion in earnings since he took office. Additionally, Frerichs says local governments have seen more than $3 billion in returns through the Illinois Funds program, which maintains a top-tier AAA credit rating from Fitch. The Illinois Funds program is designed to safely invest public monies from cities, counties, and school districts, helping boost local budgets. Frerichs credits prudent management and strategic investment choices for these returns, describing the results as a win for taxpayers statewide. He says Illinois is now better positioned for ongoing financial stability.
“Every dollar we earn in interest for the people of Illinois is a dollar that lawmakers don’t have to raise in taxes,” Frerichs said. “We are trying to maximize earnings for our state at a time when the Trump administration is looking to strip away health care for working families to give billionaires a tax cut.”
