The governor’s budget director said all sides are coming together on a deal for reforms and a balanced budget, and he expects to have a deal by the end of session Tuesday.
Tim Nuding, director for the Office of Management and Budget, is also part of the working group on a budget deal. Nuding said they’re getting close.
“Clearly there are a lot of problems being created by the impasse for a wide swath of people and it’s unacceptable. With compromise I think within striking distance we are focused on trying to get a balanced budget that solves this problem for the long term,” Nuding said.
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Nuding said the state needs economic reforms because Illinois has fewer jobs than it did 16 years ago. “That’s a sad state of affairs. We need to grow jobs in this state to create revenue and economic opportunity for people.”
Nuding said the $7 billion out-of-balance spending plan passed by House Democrats would be devastating.
“It would continue to rack up debt. It would continue to create problems. I am very concerned about our credit ratings,” Nuding said.
Continued deficit spending would also delay payments to social services and vendors, causing further harm, he said.
Nuding said it’s a myth that the governor could use a line-item veto to wipe away $7 billion in debt because of all the spending mandated by law.
Lawmakers have until May 31 to pass a balanced budget with a simple majority.