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[The following is a paid advertisement.]
Gov. J.B. Pritzker will stare down Illinois’ dismal state finances in his inaugural budget address today. According to the state’s own numbers, Illinois hasn’t balanced a budget in nearly two decades.
But why?
One simple reason: State spending has grown far faster than Illinoisans’ ability to pay for it.
From 2007 to 2017, Illinois state spending grew nearly 50 percent faster than personal incomes on a per capita basis. This rapid growth in spending has led to irresponsible budgeting, tax hikes and borrowing.
But there is an alternative.
The Illinois Policy Institute’s Budget Solutions 2020 plan provides a bipartisan path to a balanced budget without tax hikes, while responsibly paying down the state’s pension debt and bill backlog. Thankfully, lawmakers from both sides of the aisle have already introduced many of the tools Pritzker needs to balance the state budget in the current General Assembly, including a smart spending cap, school district efficiency and constitutional pension reform.
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Wednesday, Feb 20, 19 @ 10:22 am
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Previous Post: It’s just a bill
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