Capitol Fax.com - Your Illinois News Radar » Senate leaders promise their budget will balance in FY 18
SUBSCRIBE to Capitol Fax      Advertise Here      Mobile Version     Exclusive Subscriber Content     Updated Posts    Contact
CapitolFax.com
To subscribe to Capitol Fax, click here.
Senate leaders promise their budget will balance in FY 18

Tuesday, Jan 24, 2017

* Finke

The Illinois Senate’s “grand bargain” package of bills will be revised to create a balanced budget, Senate President John Cullerton and Senate Minority Leader Christine Radogno said Monday.

During a meeting with The State Journal-Register editorial board, Cullerton, D-Chicago, said he will show Senate Democrats a draft for the state to have a balanced budget by June 30, 2018. […]

Cullerton said he believes the analysis produced by Rauner’s budget office contained some flawed assumptions, and that lawmakers will be able to work throughout the spring on a balanced spending plan for next year that will be based on additional revenue. […]

Cullerton warned that the state could be facing another credit downgrade if it doesn’t take action this month to show it is dealing with the budget crisis.

Subscribers know more about those claimed “flawed assumptions” by GOMB.

* More on the possible credit downgrade from Pierog and McKinney

Fitch has warned that inaction on the budget front would result in a downgrade by the end of this month.

“If they do not do something that comprehensively addresses their budget problem and their long-term accumulated budgetary liabilities, then we certainly would take action,” Fitch analyst Karen Krop said Monday.

- Posted by Rich Miller        

21 Comments
  1. - PublicServant - Tuesday, Jan 24, 17 @ 8:59 am:

    I believe it was Word, last week, that asked where the COGFA analysis of the plan was. There a bit more independent than that wholly owned subsidiary of the governor, GOMB.


  2. - Anon221 - Tuesday, Jan 24, 17 @ 9:06 am:

    Cullterton (from the article)_ “…and that lawmakers will be able to work throughout the spring on a balanced spending plan for next year that will be based on additional revenue.”

    OK… now what about the rest of this year and all the past due bills??? How long is “spring” going to take?

    Another casualty of the Budget Battles- funerals…

    “…many funeral homes are now waiting to make sure a family can pay before they take custody of a body from the morgue.

    That means a heavier burden on local governments to keep those bodies stored. It also likely means more families who never get to say a proper goodbye to their deceased loved ones.”

    http://northernpublicradio.org/post/no-budget-means-state-unable-provide-funerals-financially-strapped-families


  3. - Rich Miller - Tuesday, Jan 24, 17 @ 9:13 am:

    ===and all the past due bills?===

    Try to keep up. We’ve gone over that several times already.


  4. - Arsenal - Tuesday, Jan 24, 17 @ 9:23 am:

    ==now what about the rest of this year==

    This FY is already so close to over that the only way to balance the budget at this point is to basically send everyone home, turn off all the lights, lock all the doors, and try again in July.


  5. - don the legend - Tuesday, Jan 24, 17 @ 9:27 am:

    I believe economists profess that a dollar circulates 5-7 times in the local community. Borrowing to pay the 10-13 billion in due bills translates to 50-90 billion in economic stimulus. certainly worth considering, right Mr. Governor?


  6. - Anonymous - Tuesday, Jan 24, 17 @ 9:36 am:

    Plan based on additional revenue! Translation, your taxes will be going even higher, without reform and less spending, if this becomes law!


  7. - PublicServant - Tuesday, Jan 24, 17 @ 9:48 am:

    ===your taxes will be going even higher, without reform and less spending, if this becomes law!===

    The governor’s “reforms”, according to his own figures provided to Rich, barely register any financial savings. In addition, the governor, who said he could balance the budget without tax increases has yet to show his work. Cut the baloney! New taxes are needed period. Time for both sides of the isle to acknowledge that fact. And lastly, you’re just plain wrong. The plan has reforms, and spending cuts too.


  8. - PublicServant - Tuesday, Jan 24, 17 @ 9:49 am:

    Gah! Aisle.


  9. - Anonymous - Tuesday, Jan 24, 17 @ 9:59 am:

    Smell the roses Public Servant! This rush through plan, with a 4.9% state income tax rate, will not be enough to balanced the budget by 2018. Their plan is to increases taxes by an even higher rate, than proposed, with no additional cuts in spending, once this is passed!


  10. - Oswego Willy - Tuesday, Jan 24, 17 @ 10:02 am:

    ===…your taxes will be going even higher, without reform and less spending, if this becomes law!===

    Really? How so?

    Show your work. Also, show the actual monetary measures of “reforms”

    Rauner’s reforms measured out to $500+ million.


  11. - Anonymous - Tuesday, Jan 24, 17 @ 10:03 am:

    Roads, bridges, teachers, cops, firefighters = taxes. You don’t want to live in civilized society? Head for the woods, build a little hut, don’t pay taxes. Stop crying.


  12. - Ray del Camino - Tuesday, Jan 24, 17 @ 10:04 am:

    Lo siento, that was me at 10:03.


  13. - Oswego Willy - Tuesday, Jan 24, 17 @ 10:07 am:

    Do we have 2 ” - Anonymous - ” now arguing both sides?

    To the Post,

    Rauner asked for the GA to come up with a budget, since as a governor, Rauner refuses to come up with a budget. Now Rauner sits. Now IPI attacks. Now Cullerton and Radogno work.

    More working towards an end that IS a budget, please.


  14. - facts are stubborn things - Tuesday, Jan 24, 17 @ 10:18 am:

    Structural deficit is and has been the issue. A tax system that has not kept pace or expanded to capture the growth in the economy to cover the growth in the expenses. Now that the pension fund seems off limits state government is running out of ways to deal with the SD without raising taxes and cutting spending. Reforms (the right kind) can and should be a part of the equation. The senate is trying to do the doable and I give them great credit!


  15. - Huh? - Tuesday, Jan 24, 17 @ 10:20 am:

    Road and bridge construction does not come out of the General Revenue fund. Road and bridge construction is paid for using motor fuel tax funds (among others) every time you fill your car with gas. MFT hasn’t gone up sites the 1990’s and there are no plans to increase it.


  16. - Earnest - Tuesday, Jan 24, 17 @ 10:23 am:

    >The Illinois Senate’s “grand bargain” package of bills will be revised to create a balanced budget, Senate President John Cullerton and Senate Minority Leader Christine Radogno said Monday.

    Great leadership here, worthy of celebrating. Instead of attacks on their plan, I’d rather see attacks on Rauner for not having an alternative balanced budget proposal out there, and on the Illinois Democratic Party for not having their alternative out there.


  17. - Anon221 - Tuesday, Jan 24, 17 @ 10:34 am:

    Movement on trying to reach a grand bargain is commendable, but there may still be issues that get ignored or overlooked in the rush to reach that bargain. My main concern is if all past due issues will be adequately addressed. There are cuts that have happened that are a direct result of the mess to date, and those cuts will probably not be part of the overall fiscal analysis of this multi-part, all-or-nothing proposal.

    http://tinyurl.com/hfa3y72

    “Under the Senate’s proposal, SIU would receive $93.4 million on top of the $106.2 million it received from the June stopgap spending plan. But the university, like others across the state, used the stopgap money to pay for expenses from the 2015-16 school year, during which it received only $57.5 million from an emergency funding measure approved in April.

    In effect, Charles said, because the June stopgap money was used for last year’s expenses, the $93.4 million from the Senate plan would be SIU’s only state funding for the current year, compared with $199.6 million for the 2014-15 school year.”

    The same thing has happened for human services that had to borrow to stay open to fulfill their contracts with the state. Those that are still open are, in effect, supporting the State and getting no relief for the additional costs incurred to keep their doors open.


  18. - PublicServant - Tuesday, Jan 24, 17 @ 10:53 am:

    ===Their plan is to increases taxes by an even higher rate, than proposed, with no additional cuts in spending, once this is passed!===

    Well, since you used an exclamation point, I know you’re serious. Thanks for that. Oh, and I’m smelling something emanating from your general direction, but I don’t think it’s roses. And, again, there are spending cuts and reforms in the plan!


  19. - Jocko - Tuesday, Jan 24, 17 @ 12:34 pm:

    ==Cullerton said he believes the analysis produced by Rauner’s budget office…==

    What he meant to say is “Since Bruce refuses to fulfill his constitutionally required duty (to propose a budget), Christine and I decided to give it a shot.”


  20. - Shemp - Tuesday, Jan 24, 17 @ 12:36 pm:

    You say flawed assumptions, I say alternative facts.


  21. - wordslinger - Tuesday, Jan 24, 17 @ 3:04 pm:

    The “input” from the governor’s office about an “unbalanced proposal” are like when you help your buddy move, and he yells at you to be careful carrying his bedroom set up the stairs, while he’s carrying sheets and pillows.

    “Anytime you want to show me how to do your job, pal, grab the heavy end.”


Sorry, comments for this post are now closed.


* Two Burke-related scoops by the Sun-Times
* Today's must-read
* More details emerge about cannabis legalization
* Did Pritzker defeat an incumbent Illinois governor by the biggest margin ever?
* Question of the day: Golden Horseshoe Awards
* Caption contest!
* Sun-Times begins to hold candidates' feet to the fire
* CTBA responds to Fitch Ratings
* Unclear on the concept
* So far, so good for Illinois auto jobs
* *** UPDATED x1 *** Tax credit could help small biz deal with minimum wage hike
* *** LIVE COVERAGE ***
* Yesterday's stories

Support CapitolFax.com
Visit our advertisers...

...............

...............

...............

...............
<


Loading


Main Menu
Home
Illinois
YouTube
Pundit rankings
Obama
Subscriber Content
Durbin
Burris
Blagojevich Trial
Advertising
Updated Posts
Polls

Archives
December 2018
November 2018
October 2018
September 2018
August 2018
July 2018
June 2018
May 2018
April 2018
March 2018
February 2018
January 2018
December 2017
November 2017
October 2017
September 2017
August 2017
July 2017
June 2017
May 2017
April 2017
March 2017
February 2017
January 2017
December 2016
November 2016
October 2016
September 2016
August 2016
July 2016
June 2016
May 2016
April 2016
March 2016
February 2016
January 2016
December 2015
November 2015
October 2015
September 2015
August 2015
July 2015
June 2015
May 2015
April 2015
March 2015
February 2015
January 2015
December 2014
November 2014
October 2014
September 2014
August 2014
July 2014
June 2014
May 2014
April 2014
March 2014
February 2014
January 2014
December 2013
November 2013
October 2013
September 2013
August 2013
July 2013
June 2013
May 2013
April 2013
March 2013
February 2013
January 2013
December 2012
November 2012
October 2012
September 2012
August 2012
July 2012
June 2012
May 2012
April 2012
March 2012
February 2012
January 2012
December 2011
November 2011
October 2011
September 2011
August 2011
July 2011
June 2011
May 2011
April 2011
March 2011
February 2011
January 2011
December 2010
November 2010
October 2010
September 2010
August 2010
July 2010
June 2010
May 2010
April 2010
March 2010
February 2010
January 2010
December 2009
November 2009
October 2009
September 2009
August 2009
July 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
December 2008
November 2008
October 2008
September 2008
August 2008
July 2008
June 2008
May 2008
April 2008
March 2008
February 2008
January 2008
December 2007
November 2007
October 2007
September 2007
August 2007
July 2007
June 2007
May 2007
April 2007
March 2007
February 2007
January 2007
December 2006
November 2006
October 2006
September 2006
August 2006
July 2006
June 2006
May 2006
April 2006
March 2006
February 2006
January 2006
December 2005
April 2005
March 2005
February 2005
January 2005
December 2004
November 2004
October 2004

Blog*Spot Archives
November 2005
October 2005
September 2005
August 2005
July 2005
June 2005
May 2005

Syndication

RSS Feed 2.0
Comments RSS 2.0
WordPress




Hosted by MCS SUBSCRIBE to Capitol Fax Advertise Here Mobile Version Contact Rich Miller