While J.B. Pritzker has not released a detailed tax plan of his own, reasonable cost estimates suggest the tax hike required to pay for the candidate’s spending promises would require doubling Illinois’ state income tax rate and cost the state an estimated 132,000 jobs and $31.3 billion in forgone GDP.View Report
Pensions and employee health insurance costs consumed nearly a quarter of Illinois’ fiscal year 2018 budget.
Medicaid has ballooned to cover more than a quarter of Illinois’ population, with spending at $5.4 billion, up 141 percent 2015 compared with 2000. Now that a federal judge has ruled Illinois must speed up its Medicaid payments, the state’s Medicaid payment will increase $83 million each month, for a total monthly payment of $376 million.
While the Better Government Association has claimed Illinois’ budget contains no fat to trim, a deeper analysis reveals the state has many areas of expensive inefficiency to reform in state and local government costs, the Medicaid program and K-12 education.
Between 2014 and 2016, Illinois’ Medicaid expansion cost $4.6 billion more than its supporters had forecasted, crowding out services for Illinois’ most vulnerable residents.
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.
Illinois should roll back the state’s Obamacare Medicaid expansion and institute work requirements to save Medicaid for truly needy Illinoisans.
After hundreds of waiting list deaths and an unsustainable enrollment explosion, Illinois policymakers must act swiftly to contain this growing nightmare. Thankfully, they have options.
Illinois has a Medicaid crisis. With an Obamacare Medicaid expansion program that continues to spiral out of control, newly obtained data confirm fears that the expansion program would prioritize able-bodied adults over the state’s truly vulnerable residents.
The time is ripe to offer private insurance options to needy Illinoisans through premium-assistance programs and Medicaid savings accounts.
The surging numbers of able-bodied adults in ObamaCare’s Medicaid expansion threatens funding for Illinois’ neediest residents and discourages work among those enrolled.