The Senate adjourned yesterday without taking any votes on the "grand bargain."

The proposal would be part of the Senate’s “grand bargain,” which also includes a multibillion-dollar income tax hike.

A new report from the Commission on Government Forecasting and Accountability shows Illinois has experienced falling tax collections, which may indicate trouble in the state economy; spending reforms – not tax hikes – are what Illinois needs to right its fiscal ship and boost economic growth.

As pressure mounts on state senators and representatives to vote in favor of multibillion-dollar tax hikes, lawmakers should remember the promises they’ve made to taxpayers.

The Illinois Senate’s proposed budget plan would raise the personal income tax rate to at least 4.95 percent with no real reforms to address the state’s skyrocketing debt and unsustainable spending. This proposal comes despite Illinois’ loss of $14 billion in annual income and hundreds of thousands of people in the wake of the 2011 income tax hike.

The Illinois Senate’s budget “compromise” hits Illinoisans with more than $5 billion in tax hikes, continued budget deficits and no real reforms.

The new budget plan coming out of the Illinois Senate does little to nothing to reform the state’s reckless spending and financial mismanagement, but does plenty to hurt state taxpayers.