Jack Franks

Student loans
9:41 am
Tue March 11, 2014

Lawmaker Wants European Model Of Student Loans

Rep. Jack Franks (D-Marengo)
Credit ilga.gov

  A plan that could lead to Illinois changing its student loan repayment programs is moving through the General Assembly. The new method would let students pay back loans based on their income, instead of a set schedule.

The model is a European one, often used in the U.K. and Australia, says sponsor Jack Franks (D-Marengo). Franks says he wants to prevent college grads from being shackled to large debt payments.

Currently, students have to begin making steady payment shortly after they graduate, whether or not they've found a job, and regardless of how much that job pays.

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Higher Ed
6:00 am
Mon February 24, 2014

Legislation Would Block Faculty Loans

Illinois lawmakers are considering whether to crack down on universities giving a certain type of interest-free loan to faculty. Except it doesn’t seem to be happening in Illinois.

State Rep. Jack Franks, a Democrat from Marnego, says the legislation is meant to prevent universities from abusing their tax-exempt status.

“What we found was that tax-exempt universities were giving interest-free … loans, and also forgiving loans, for second homes for professors, at a time when students are taking on excessive debt," Franks says.

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Gasoline Taxes
9:53 am
Tue September 10, 2013

Spending, Savings Fuel Gas Tax Proposals

Credit Amanda Vinicky

As gas prices rise and fall, there's one constant: however much you pay to fill your gas tank, it's taxed. Several proposals would change how.

In Illinois, gasoline is taxed twice.

"What we have in Illinois is a tax on a tax," Rep. Jack Franks (D-Marengo) says. "Which is just wrong. Because right now we get charged with the motor fuel tax. But then on top of that, they charge a sales tax."

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Credit Downgrade
5:32 pm
Mon June 3, 2013

After No Pension Deal, Fitch Lowers Illinois' Credit Rating

Illinois' credit rating has suffered another downgrade.

It follows the General Assembly's adjournment Friday without any agreement on what to do about the state's pension systems.

 

A string of previous downgrades already left Illinois with the lowest bond rating in the nation.

None of those spurred legislators to reach a compromise - and there's no telling if this latest one will be any different.

Fitch lowered Illinois from an A to an A- rating, a status that means it may cost more when the state borrows money.

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Frosty Free
7:01 am
Wed May 29, 2013

Cell Phone Ban Headed to Governor

A mix of tourists and lobbyists milled about the rotunda of the Illinois Statehouse on Tuesday.
Credit Brian Mackey/WUIS

The Illinois House gave final approval on Tuesday to a ban the hand-held use of cell phones behind the wheel. The fate of the idea is now up to Gov. Pat Quinn. The issue had been debated before, but one opponent of the measure had a few new points to make.

Rep. Jack Franks, D-Marengo, decided to recount a long story about a recent stop at a Wendy's. He ordered a Frosty.

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