PRESS RELEASE: Think Tank Releases Alternative to Quinns Budget
The nonpartisan Illinois Policy Institute released today a balanced, line-by-line alternative to the budget proposed by Illinois Gov. Pat Quinn.
PRESS RELEASE
MEDIA CONTACT: Diana Rickert
Diana@IllinoisPolicy.org or (312) 607-4977
March 8, 2011 The nonpartisan Illinois Policy Institute released today a balanced, line-by-line alternative to the budget proposed by Illinois Gov. Pat Quinn.
Since Quinns budget was released last month, it has been widely criticized for its reliance on hefty tax increases and $8.75 billion in borrowing. If followed, Quinns budget would prompt Illinois to run recurring, annual deficits of nearly $3 billion by the year 2016. By the end of the decade, Illinois could fall $15 billion behind on its bills.
This strange strategy of taxing, borrowing and overspending has long haunted Illinois, and it fails year after year, said John Tillman, CEO of the Institute. It does not have to be that way. Illinois can once again be an economic powerhouse offering prosperity for all citizensbut only if we choose the right path.
The Institutes proposal, dubbed Budget Solutions 2012, balances the state budget without borrowing, without revenue from the recent tax increases and has positive cash flow for fiscal year 2012.
The budget includes innovative solutions to state problems, such as the rising costs of Medicaid reform. Budget Solutions 2012 suggests the state transform Medicaid into a premium assistance program, which through a federal block grant waiver would offer Medicaid beneficiaries greater access to care at a lower overall cost to the state.
Another proposal, a Competitive Grant Program, would save the state $200 million annually by requiring the recipients of 328 line item grants to compete for funding through an application process.
Budget Solutions 2012 is available online at: http://illinoispolicy.org/BudgetSolutions2012.
Media contact: Diana Rickert (312) 607-4977