The years 2010 through 2019 will go down in Illinois history as a decade of public policy failure and economic decline. High fixed costs for pensions and government worker health care have prevented the state from balancing its budget in any year since 2001. Since the Great Recession in 2008, the state’s fiscal imbalance has...View Report
Band-Aid fixes and spending-heavy compromises were rampant. And now it’s all coming home to roost.
Contrary to claims from both Republicans and Democrats, and despite raising nearly $1.1 billion in new taxes and fees for operations, the fiscal year 2020 budget is out of balance by between $574 million and $1.3 billion.
A new governor and Democratic supermajorities have retained the same chaotic budgeting process that has brought the state’s credit rating to near-junk status.
Facing down a $3 billion deficit, Illinois Gov. J.B. Pritzker offered an unbalanced budget including more tax hikes, borrowing and spending. He claimed severe cuts were the only alternative, but another option exists.
Democrats in the Illinois House are leading the push for a constitutional amendment that would require the state to balance its budget – a feat state lawmakers haven’t achieved since 2001.
Getting behind bipartisan budget reform is the kind of bravery Illinoisans deserve from the executive branch. Instead, they’re getting more of the same.
Illinois Gov. J.B. Pritzker has said his first year deficit is $3.2 billion, but he intends to spend hundreds of millions more than planned under previous baseline budgeting.
Fiscal notes serve as price tags on bills in the General Assembly. Lawmakers’ habit of omitting them limits their ability to make well-informed decisions.
Illinois families deserve better than to be told the only real solution is in their pocketbooks.
The Land of Lincoln has a new governor, but the state’s deep-seated problems remain. Here are five reforms that newly inaugurated Gov. J.B. Pritzker could pursue to begin setting the state on the right fiscal path.