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Tag Archives: budget

FOUR DAYS LEFT

#Illinois House Democrats agreed to a four-year property tax freeze, including an increase to the homestead exemption for homeowners, just four days before the end of the special session. The House Revenue Committee today approved the plan and sent it to the House floor for a vote. Gov. Bruce Rauner has said the four-year freeze… read more

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FIVE DAYS LEFT

With just a week left in the special session, House Speaker Michael Madigan Sunday outlined his own list of non-budget demands, asking that Gov. Bruce Rauner sign a school funding reform bill that the governor previously said he would veto. The four House and Senate leaders met Sunday for the first time since December 2016… read more

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NINE DAYS LEFT

Lawmakers returned to Springfield yesterday to begin their 10-day special session aimed at ending the state’s three-year budget stalemate, but spent only a few minutes in the House and Senate actually in session. Instead, Democrats and Republicans spent the majority of their time in private meetings reviewing portions of a proposed budget deal – and… read more

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MOODY’S, S&P DOWNGRADE #ILLINOIS

Just hours after Illinois lawmakers missed the May 31 deadline for striking a budget deal, Moody’s Investors Service and S&P Global Ratings downgraded Illinois’ bond rating to one step above junk status. The agencies cited Illinois’ underfunded pensions and the record backlog of bills stemming from the state’s two-year budget impasse. Illinois now has the… read more

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NO BUDGET, AGAIN

#Illinois House Speaker Michael Madigan announced yesterday the House would not vote on a budget deal, missing the state’s May 31 deadline. With the impasse now stretching into its third straight year, this is the longest the state has gone without a spending plan since at least the Great Depression, and has had profound effects… read more

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‘GRAND BARGAIN’ FIZZLES AGAIN

Despite promises from lawmakers that they are close to a budget deal, the Illinois Senate did not vote on any part of the ‘grand bargain’ Thursday. The Senate made some progress Wednesday, voting in favor of a $36.5 billion spending plan, but then voted against a companion bill to apply some of the needed cuts…. read more

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BUDGET PLAN FALLS SHORT

An analysis of the Illinois Senate’s budget plan, conducted by the Governor’s Office of Management and Budget, found that the sweeping plan, which includes an income tax increase, still will leave a $4.3 billion deficit. According to the report, $4.4 billion in spending included in the proposed budget will far outweigh the expected $1.7 billion… read more

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MORE CUTS

Western Illinois University’s President says the school will lay off 110 non-instructional staffers because of the lack of state budget.

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UNPAID BILLS PILING UP

Illinois comptroller Leslie Munger says the state’s overdue bills could hit $10 billion by June.

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TOP ISSUES

New survey finds 56% of Americans say that reducing the budget deficit should be a top priority, down 16 points from 2013. Most continue to cite the economy (75%) and terrorism (75%) as the top issues. 

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