Illinois' revenue projected to be $33.7 billion in Fiscal Year 2013
Springfield, IL...The Illinois House of Representatives approved bi-partisan legislation today ensuring the State of Illinois budget does not spend more than the state receives in revenue. The legislation is House Joint Resolution 68 (HJR 68). Illinois State Representative Dwight Kay (R-Glen Carbon) supported the bi-partisan resolution.
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"The revenue estimate established by the legislature today is more conservative than projected by Governor Quinn and the Commission on Government Forecasting and Accountability," said Rep. Kay. "This year's budget negotiations will require the legislature to prevent the expansion of new programs, reject pay raises for elected officials, control spending, and improve Illinois' job climate."
HJR 68 estimates Illinois' revenue for FY13 to be at $33.7 billion. The FY13 revenue estimate was established and supported by the majority in all four legislative caucuses which includes both the House/Senate republicans and democrats.
"What happened today is monumental, the state of Illinois is attempting to create a budget just like a family or a business does and that is to not spend more than what's in the bank. Coming to a consensus on a spending number is going to be difficult but the fact that we are starting with a conservative revenue estimate is a start in the right direction. As a member of an appropriations committee I will work to save taxpayer dollars by advocating that our state budget spend less than our estimated revenue and pay down the $8.5 billion backlog of unpaid bills."
HJR 68 was approved the Illinois House 95Y-11N-3P and has been sent to the Senate for approval.
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