Illinois Legislature Passes Wait-And-See Budget
No one says the $35.7 billion 2015 budget approved by the Illinois Legislature late last week is balanced. As the Belleville News Democrat reported, “Democratic Sen. Dan Kotowski, a Senate budget negotiator, described the plan as ‘incomplete’ but the best lawmakers could do this session. He said legislators will have to either find additional funds in the next year or cut at least $4.4 billion in expenses -- an amount some lawmakers say could lead to thousands of layoffs, closing facilities and slashing programs.”
The state’s revenue picture is key to the Illinois gubernatorial election.
Incumbent Pat Quinn, a Democrat, wants to make a 2011 income tax hike permanent while Republican Bruce Rauner wants to "step down" the increase. The revenue decline will occur in the second half of fiscal 2015 as the personal income tax rate falls to 3.75 percent from 5 percent and the corporate rate drops to 5.25 percent from 7 percent.
As reported by the Chicago Tribune:
- "I wouldn't be surprised if what's going through the Democrats' minds is, 'We'll limp through the election and if (Rauner) wins, screw him. And if Quinn wins, we'll help him out,'" said Charles N. Wheeler III, a professor at the University of Illinois at Springfield and a longtime statehouse observer.
The budget wasn't the only issue, though the session didn't produce a lot. The General Assembly approved $1 billion for road and bridge projects, and passed bills that allow election-day voter registration and restore dental and podiatry care to the Medicaid program
The fall ballot is also likely to have as many as seven issues for the voters to have their say on :
1 – should the state’s $8.25 minimum wage go up to $10 (advisory)
2- should millionaires be taxed at a higher rate (advisory)
3 – term limits (constitutional amendment)