U.S. Senate Majority Leader Harry Reid (D-NV) and the Senate Democrats voted to block a one month extension of unemployment insurance for out-of-work workers in Illinois yesterday. The measure, which was introduced by U.S. Senate Republican Leader Mitch McConnell (R-KY) and U.S. Senator Tom Coburn (R-OK), would have been paid for by drawing from unused funds from the failed $787 billion stimulus. 

This vote came one day before news that Illinois’ unemployment rate skyrocketed to 11.4 percent in February 2010.

“Alexi Giannoulias hopes to join Harry Reid in the Democrat Senate caucus, so would he have supported Reid’s vote to block extending unemployment insurance for out-of-work Illinois workers?” said National Republican Senatorial Committee (NRSC) spokeswoman Amber Marchand.

Earlier this month, Reid accused Republicans of blocking an extension of unemployment benefits for out-of-work Americans, but the reality was quite different. Republicans supported a temporary extension of unemployment benefits, but objected to the Democrats’ attempts to reverse the “pay-go” rules that were passed weeks earlier.

Despite Reid’s fiery rhetoric just a few weeks earlier, the Senate Democrat Leader and 56 of his Democrat colleagues reversed their positions and voted to block this one month extension of the same unemployment insurance benefits, which they claimed to support.

U.S. Senate Majority Leader Harry Reid (D-NV) and the Senate Democrats voted to block a one month extension of unemployment insurance for out-of-work workers in Illinois yesterday. The measure, which was introduced by U.S. Senate Republican Leader Mitch McConnell (R-KY) and U.S. Senator Tom Coburn (R-OK), would have been paid for by drawing from unused funds from the failed $787 billion stimulus. 

This vote came one day before news that Illinois’ unemployment rate skyrocketed to 11.4 percent in February 2010.

“Alexi Giannoulias hopes to join Harry Reid in the Democrat Senate caucus, so would he have supported Reid’s vote to block extending unemployment insurance for out-of-work Illinois workers?” said National Republican Senatorial Committee (NRSC) spokeswoman Amber Marchand.

Earlier this month, Reid accused Republicans of blocking an extension of unemployment benefits for out-of-work Americans, but the reality was quite different. Republicans supported a temporary extension of unemployment benefits, but objected to the Democrats’ attempts to reverse the “pay-go” rules that were passed weeks earlier.

Despite Reid’s fiery rhetoric just a few weeks earlier, the Senate Democrat Leader and 56 of his Democrat colleagues reversed their positions and voted to block this one month extension of the same unemployment insurance benefits, which they claimed to support.

As the health care debate continues in Washington, we’re still learning more about the actual impact that this bill will have on workers, families, seniors, and job creators in states like Illinois.

But as the Wall Street Journal notes in the story below, the Democrats’ health care legislation – which Senate hopeful Alexi Giannoulias endorsed – will hurt at least one of the key job creator in Illinois: Caterpillar.

Caterpillar Inc. said Wednesday it will take a $100 million charge to earnings this quarter to reflect additional taxes stemming from newly enacted U.S. health-care legislation.

The world's largest construction equipment manufacturer by sales, warned last week that provisions in the legislation would subject the company to federal income taxes on the subsidies it receives for providing prescription drug benefits for its retirees and their spouses.

Since the Medicare Part D program was enacted in 2003, Peoria, Ill.-based Caterpillar and more than 3,500 companies that already provided drug-benefit expenses to retirees have received tax-free subsidies as an incentive to maintain their drug programs.

As President Obama noted last year, “you can measure America’s bottom line by looking at Caterpillar’s bottom line”:

“So what's happening at this company tells us a larger story about what's happening with our nation's economy, because, in many ways, you can measure America's bottom line by looking at Caterpillar's bottom line." (President Obama, Remarks To Caterpillar Employees, 2/12/09)

Now that we know the Democrats’ massive and costly health care bill will hurt one of Illinois’ top job creators, I would encourage you to ask Alexi Giannoulias today – does he stand by his endorsement of this flawed legislation?

As the health care debate continues in Washington, we’re still learning more about the actual impact that this bill will have on workers, families, seniors, and job creators in states like Illinois.

But as the Wall Street Journal notes in the story below, the Democrats’ health care legislation – which Senate hopeful Alexi Giannoulias endorsed – will hurt at least one of the key job creator in Illinois: Caterpillar.

Caterpillar Inc. said Wednesday it will take a $100 million charge to earnings this quarter to reflect additional taxes stemming from newly enacted U.S. health-care legislation.

The world's largest construction equipment manufacturer by sales, warned last week that provisions in the legislation would subject the company to federal income taxes on the subsidies it receives for providing prescription drug benefits for its retirees and their spouses.

Since the Medicare Part D program was enacted in 2003, Peoria, Ill.-based Caterpillar and more than 3,500 companies that already provided drug-benefit expenses to retirees have received tax-free subsidies as an incentive to maintain their drug programs.

As President Obama noted last year, “you can measure America’s bottom line by looking at Caterpillar’s bottom line”:

“So what's happening at this company tells us a larger story about what's happening with our nation's economy, because, in many ways, you can measure America's bottom line by looking at Caterpillar's bottom line." (President Obama, Remarks To Caterpillar Employees, 2/12/09)

Now that we know the Democrats’ massive and costly health care bill will hurt one of Illinois’ top job creators, I would encourage you to ask Alexi Giannoulias today – does he stand by his endorsement of this flawed legislation?

In Illinois, the Kirk for Senate campaign today called on Alexi Giannoulias to end his silence and come clean about his role in approving loans for Nick Giannis, the Giannoulias contributor and family friend who arrived in Chicago Police custody yesterday facing bank fraud charges. Click here to watch the NBC Chicago report.

In Illinois, the Kirk for Senate campaign today called on Alexi Giannoulias to end his silence and come clean about his role in approving loans for Nick Giannis, the Giannoulias contributor and family friend who arrived in Chicago Police custody yesterday facing bank fraud charges. Click here to watch the NBC Chicago report.

In Illinois, the Chicago Tribune’s Andre Wang reports that one of Alexi Giannoulias’ top associates and six-figure donor, Nick Giannis, was charged with writing $1.9 million in bad checks from Giannoulias’ family business, Broadway Bank.

Giannis and his son Chris, 38, and restaurant manager Andy Bakopoulos, 38, were charged with defrauding Charter One and Washington Mutual banks. Chris Giannis also was charged with two counts of being an organizer of a continuing financial crimes enterprise.  They are accused of writing bad checks from their accounts at Broadway Bank to other banks as part of the scheme. Broadway is owned and operated by the family of Alexi Giannoulias, the Democratic candidate currently running for one of Illinois' U.S. Senate seats.  Nick Giannis contributed about $114,000 to Giannoulias' campaigns for state treasurer and senate.

In Illinois, the Chicago Tribune’s Andre Wang reports that one of Alexi Giannoulias’ top associates and six-figure donor, Nick Giannis, was charged with writing $1.9 million in bad checks from Giannoulias’ family business, Broadway Bank.

Giannis and his son Chris, 38, and restaurant manager Andy Bakopoulos, 38, were charged with defrauding Charter One and Washington Mutual banks. Chris Giannis also was charged with two counts of being an organizer of a continuing financial crimes enterprise.  They are accused of writing bad checks from their accounts at Broadway Bank to other banks as part of the scheme. Broadway is owned and operated by the family of Alexi Giannoulias, the Democratic candidate currently running for one of Illinois' U.S. Senate seats.  Nick Giannis contributed about $114,000 to Giannoulias' campaigns for state treasurer and senate.

Embattled Illinois Senate candidate Alexi Giannoulias continues to take fire for his questionable business ethics - this time for doing business with a French bank known for financing the Iranian energy secter.

The Weekly Standard today ran a piece, saying that Giannoulias' dealings with the French investment bank Natixis were "disturbing".  This comes on the heels of revelations about his role in funding convicted organized crime figures through his family owned Broadway Bank, and the arrest of one of Giannoulias' top donors for fraud as he tried to flee the country.

From The Weekly Standard:

Alexi Giannoulias is no stranger to controversial business relationships: As chief loan officer at his family’s Broadway Bank, the Illinois Democrat running for President Obama’s old U.S. Senate seat authorized loans to convicted organized crime leaders like Michael “Jaws” Giorango (a pimp and bookmaker) and Demitri Stavropoulos (an illegal gambling operator). Giannoulias also serviced loans for convicted felon Tony Rezko.

And, just last week, a Chicago businessman who contributed $115,000 to Giannoulias’s campaign and received millions in loans from Broadway Bank was arrested on bank fraud charges as he attempted to flee the country.

Giannoulias, currently the state treasurer of Illinois, has some disturbing, if indirect, business connections to Iran.  

Although several legislative efforts in Congress are currently in the works to apply more sanctions to Iran, and although Giannoulias has called Iran “the greatest single threat to peace in the Middle East,” when it comes to his personal finances, however, Giannoulias does not apply the same standards.

Giannoulias owns stock in his family’s Giannoulias Enterprises, a limited partnership that owns several properties in Chicago.  Giannoulias’s brother, Demetris, serves as the president.

In April 2007, Giannoulias Enterprises refinanced its real estate portfolio, taking out a $21.5 million, 10-year loan on six properties – four of them being the locations of the family’s Broadway Bank. With all the banks in the world to choose from, Giannoulias Enterprises selected the French investment bank Natixis – an institution with a long and public history of doing business in Iran.

Embattled Illinois Senate candidate Alexi Giannoulias continues to take fire for his questionable business ethics - this time for doing business with a French bank known for financing the Iranian energy secter.

The Weekly Standard today ran a piece, saying that Giannoulias' dealings with the French investment bank Natixis were "disturbing".  This comes on the heels of revelations about his role in funding convicted organized crime figures through his family owned Broadway Bank, and the arrest of one of Giannoulias' top donors for fraud as he tried to flee the country.

From The Weekly Standard:

Alexi Giannoulias is no stranger to controversial business relationships: As chief loan officer at his family’s Broadway Bank, the Illinois Democrat running for President Obama’s old U.S. Senate seat authorized loans to convicted organized crime leaders like Michael “Jaws” Giorango (a pimp and bookmaker) and Demitri Stavropoulos (an illegal gambling operator). Giannoulias also serviced loans for convicted felon Tony Rezko.

And, just last week, a Chicago businessman who contributed $115,000 to Giannoulias’s campaign and received millions in loans from Broadway Bank was arrested on bank fraud charges as he attempted to flee the country.

Giannoulias, currently the state treasurer of Illinois, has some disturbing, if indirect, business connections to Iran.  

Although several legislative efforts in Congress are currently in the works to apply more sanctions to Iran, and although Giannoulias has called Iran “the greatest single threat to peace in the Middle East,” when it comes to his personal finances, however, Giannoulias does not apply the same standards.

Giannoulias owns stock in his family’s Giannoulias Enterprises, a limited partnership that owns several properties in Chicago.  Giannoulias’s brother, Demetris, serves as the president.

In April 2007, Giannoulias Enterprises refinanced its real estate portfolio, taking out a $21.5 million, 10-year loan on six properties – four of them being the locations of the family’s Broadway Bank. With all the banks in the world to choose from, Giannoulias Enterprises selected the French investment bank Natixis – an institution with a long and public history of doing business in Iran.