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

Income and sales taxes account for nearly two-thirds of state revenue.

Fiscal mismanagement by Illinois politicians has resulted in mounting deficits that are hurting the state’s economy, leading to ever-higher taxes, and driving people and their income out of the state.

In his annual budget address, Mayor Rahm Emanuel provided an optimistic outlook on city finances, but no major reforms to give taxpayers reason to smile.

Latest budget proposal from House Democrats would almost certainly cause further delays in officials’ pay, as Gov. Bruce Rauner would likely veto the plan, which is unbalanced by $7 billion.

Illinois' budgeting process is not fair to the people of Illinois.

llinois Comptroller Leslie Munger said Speaker Madigan's budget proposal would increase the state's unpaid bills to $15 billion and cause eight to nine month payment delays for vendors.

Despite a constitutional requirement to do so, Illinois politicians have not passed a balanced budget since 2001.

Donna Arduin is an Illinois Policy Institute senior fellow and a partner at Arduin, Laffer & Moore Econometrics, a group that advises federal, state and municipal leaders, as well as political candidates and private-sector clients, on economic, fiscal and state policies.

The bipartisan pass-through spending law will provide services to the state’s most vulnerable.