FY14

Budget FY15
5:02 am
Mon May 12, 2014

State Budget: "It's All In Such A State Of Flux"

Credit Brian Mackey/WUIS

After a weekend break, Senators will return to Springfield this afternoon, as the calendar draws closer to the scheduled May 31 adjournment.

While the end of the month is a key date, it's another one, about a half a year away, that will largely guide much of what happens these next few weeks: the November election.

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Pensions
7:20 am
Tue January 7, 2014

Don't Bank On Pension Savings Just Yet

House Speaker Michael Madigan sponsored the pension overhaul, which state employees' and teachers' unions say unfairly cuts their benefits.
Credit Amanda Vinicky/WUIS

With the new year comes the annual process of crafting a new state budget.  Money will be tight, despite a pension law that's supposed to save $160 billion dollars over the next 30 years.

Legislators who voted to cut state employees' and teachers' retirement benefits say they had no choice. Nearly a fifth of the state budget was going into Illinois' pension systems. Meaning there was less money to spend elsewhere. The pension law is supposed to ease that so-called "squeeze."

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Fiscal Focus
4:30 pm
Tue October 29, 2013

Report: Deficit Expected Even If Tax Hike Stays

Credit flickr/borman18

  Even if Illinois keeps its higher income tax rate, a new report projects the state is headed toward deficit spending. 

Illinois residents are paying a 5-percent tax on their income. It's been that way since 2011.

According to a new report from the University of Illinois' Institute of Government and Public Affairs, that tax money helped balance Illinois' budget this year.

But economist David Merriman, who directed the project, says that won't last.

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Education Budget
4:28 pm
Thu June 27, 2013

Despite Level Funding, Quinn Says Pensions Still Squeezing Schools

Gov. Pat Quinn

After years of state budget cuts, Illinois schools will get roughly level funding under legislation signed into law Thursday. But Governor Pat Quinn says it's still not enough.

Earlier this year, Quinn said Illinois' budget problems meant the state had to reduce school spending. But lawmakers decided not to cut the education budget, in part because Illinois collected more taxes in April than it anticipated.

The extra money will go to elementary and high schools, community colleges, and public universities. It also funds MAP grants for needy college students.

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Education Funding
6:30 am
Thu May 30, 2013

On Schools Budget, Republicans Say Not Enough

Another key component of the Illinois state budget moved through the General Assembly on Wednesday. The Democrats' spending plan prevents what could have been steep cuts for schools, but Republicans say students outside Chicago are getting shortchanged.

  Democrats are approving mostly level funding for elementary and high schools in Illinois. That's significant because education spending, like most areas of the state budget, has been cut in recent years. And Gov. Pat Quinn's budget proposal said even deeper cuts would be necessary.

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FY14 Budget
7:31 am
Wed May 29, 2013

Democrats Advance Kinder Budget

The bulk of a new state budget passed out of the Illinois House Tuesday, and now heads to the Senate. It's far less harsh than lawmakers had been predicting at the start of the legislative session. 

 

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FY14 Budget
6:40 am
Mon May 20, 2013

Legislators' Budget Plans Expected To Cut Deeper Than Quinn's

Rep. Greg Harris (D-13), courtesy ILGA.gov
Credit ILGA.gov

Despite years of cuts to the Illinois state budget ... even more are ahead.  Legislators are still deciding where else they can slash spending.

 

"Human services" is a legislative phrase Rep. Greg Harris (D-Chicago) says covers:

HARRIS: "All the state departments  dealing with health care, senior services, children services, so the Department of Healthcare and Family Services, Medicaid, human services, mental health, substance abuse, Department of Aging, DCFS, public health and veterans... "

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