Response to Recently Passed Illinois Budget
Tonia Khouri has released a response to the recently passed Illinois State budget.
1) It is unbalanced and relying on overly optimistic revenue projections (COGFA and GOMB’s estimated revenue = $37.87-$37.96B. Expected expenditures = $38.5B)
2) It does not include a spending cap which would protect taxpayers from lawmakers appropriating more spending (and more tax dollars) during the year.
3) It does not address any long-term fiscal problems (includes a pension buyout that I support; however does not address reforming pension benefits for new hires going forward).
4) It lacks any property tax relief for homeowners.
5) It lacks any economic growth reforms (workers’ comp reform, pension reform, regulatory reform).
The good news? It doesn’t raise taxes.
The bad news? It doesn’t make things any better.
We need property tax relief, governmental reforms, and accountability in Springfield and we need them now. Or the exodus will continue…