IVCA Provides Updates for State Legislative Issues 11/11/2026

ILLINOIS VENTURE CAPITAL ASSOCIATION ILLINOIS LEGISLATIVE REPORT

David Stricklin / Stricklin & Associates

Wednesday, November 11, 2026

WELCH STEPS DOWN AS SPEAKER / DEMOCRATS TO DECIDE ON NEW LEADER

One day after the election a contingent of Illinois House Democrats revealed their determination for new leadership and a desire to move on from Speaker Chris Welch. Within 24 hours of that announcement Speaker Welch decided he would not again seek the top post, and a furious campaign is now underway for whom will be his successor.

TRIBUNE: Democrats move on from Welch

Illinois House Speaker Emanuel “Chris” Welch announced Thursday evening that he would not seek reelection to the powerful post in January, a move prompted by a rebellion led by 26 current and incoming Democratic lawmakers who called for new leadership following months of criticism over his handling of sexual harassment allegations and his leadership style.

There is a credible list of perhaps a dozen members who could make a case for being speaker. The IVCA has a good working relationship with most if not all the members who are so far being vetted by their colleagues in the House. In an intramural contest such as this there are all sorts of factors unknown to the public which could influence the direction of the decision. It appears that House Democrats will first caucus next week in Springfield during the regularly scheduled Veto Session, then hear from the candidates who believe they can get to the 60 votes of their colleagues to win the post, with a final decision before the new General Assembly starts in January of 2027.

DEMOCRATS SWEEP IN ILLINOIS AND INCREASE LEGISLATIVE MARGINS

Illinois voters followed national trends by putting more Democrats into legislative offices in both seats held by Republican incumbents and seats where a Republican legislator retired. House Democrats gained six seats increasing their majority from 78 to 84, while Senate Democrats gained five seats, raising their total from 40 to 45. For the IVCA this puts a premium on communicating with those new members about the economic value of a vibrant private investment ecosystem.

Democrats also won all the statewide constitutional offices. Governor JB Pritzker is expected to announce he is running for President of the United States anytime soon.