Budget day is drawing near for the governor. He’s due to propose a budget on Wednesday, and Laurence Msall of the Civic Federation knows it won’t be fun. “For the Civic Federation, we’re certainly very eager to see what Gov. Rauner’s plan is for moving forward. We know it’s going to be a very difficult situation. We know it’s going to be very hard and painful for just about anyone who relies on government, relies on the state, relies on services from the state,” he said.
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Msall says the state has two main problems:
The current budget is in the hole by at least $1.5 billion with 4½ months to go in the fiscal year
The state cannot take advantage of the savings from the new pension law while its constitutionality is still being litigated. As it is, the state is spending almost 25 cents of every tax dollar on pensions.
Meanwhile, the governor has promised not to raise the income tax, and to commit more money to education.