Hurricane Ian Notice

Due to the impending Hurricane Ian and its impact on the Sarasota area; Cumberland Advisors has mobilized and relocated our disaster recovery team to our Vineland, NJ office. If the storm does affect the Sarasota area, Cumberland Advisors’ staff members are on standby, and ready to provide you with any assistance you may need.  Our phone lines and emails will be monitored, and we will respond to matters on a priority basis.
 
For any urgent concerns you may also contact the following individuals by email directly:

For our clients residing in the Sarasota area, Cumberland Advisors knows nothing is more important than the safety of you and your family. We urge you to take the necessary steps to protect your loved ones. Check your supplies and make sure you have plenty of fresh water, flashlights, and a battery-operated radio. Cumberland values our customers’ security and peace of mind, and our goal is to provide outstanding service.
 
Thank you for entrusting us to continue to provide you service and may all stay safe.

 

Excerpt from...
 

Illinois governor preps budget with temporary tax relief


by Yvette Shields - January 31, 2022

 

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John R. Mousseau - In the News

 

Illinois Gov. J.B. Pritzker will propose a one-time, $1 billion tax relief package when he unveils his proposed fiscal 2023 budget Wednesday, joining the wave of leaders of Democratic and Republican-run states in looking to tap surging tax collections to provide temporary or permanent cuts.

Fiscal managers might look at the state’s balance sheet and suggest using any surplus to help pay down the state’ burdensome pension tab of $139.9 billion or to further pay down a bill backlog that’s been trimmed $2.9 billion from highs in the $14 billion range, but some say there’s a potential longer-term benefit to tax relief.

“In an actuarially perfect world you would want to go and fix pensions but it's incumbent upon any governor to keep businesses and keep people in their state,” said John Mousseau, president and chief executive officer at Cumberland Advisors.

By providing a carrot in the form of directed tax relief to offset inflationary pressures, even if just for just one-year, the state could help its case in slowing or reverse out-migration, which Mousseau called a tall order for Illinois.

The governor “is trying to paint a better picture of Illinois,” Mousseau said. “As a portfolio manager you like to see an improved balance sheet and more revenue but also I want to live for tomorrow” and that entails holding onto and expanding the tax base.

Read the full article (with subscription): https://www.bondbuyer.com/news/illinois-governor-preps-budget-with-temporary-tax-relief


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Cumberland Advisors Market Commentaries offer insights and analysis on upcoming, important economic issues that potentially impact global financial markets. Our team shares their thinking on global economic developments, market news and other factors that often influence investment opportunities and strategies.

 

John R. Mousseau, CFA
Published Date
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The Bond Buyer