Lawmakers say Only Three Bills are Needed to Pass Balanced Budget
SPRINGFIELD, Ill. (WRSP) —
According to Senate Democrats, as things stand now, in order for the state to get a balanced budget, three bills need to move through their chambers.
First is a 2018 spending bill, which passed the Senate Wednesday.
Second is a budget implementation bill, which failed in the Senate Wednesday, but is being reconsidered and could be called to a vote again.
The third is a revenue bill, which would, in part, increase personal income tax from 4.95 percent from 3.75 percent and increase corporate income tax to 7 percent from 5.25 percent. Democrats said the revenue bill won't be voted on until a budget implementation bill is passed.
The failed budget implementation bill contained many cuts needed to balance the budget.
"We need to go back to the table, finish the budget, make sure it's absolutely balanced,” Sen. Chapin Rose, R-Mahomet, said. “Then make sure we have the property taxpayer protections that are necessary and also the workers' comp bill so we can get people back to work in the state and improve our jobs climate for the state of Illinois."
"Time is of the essence here, but unfortunately I think what we saw yesterday is evidence that the Republicans in the legislature are taking their cues from Gov. Rauner, and it's pretty clear to me that he's doing everything he can to stop any sort of progress," Sen. Andy Manar, D-Bunker Hill, said.
A second Grand Bargain bill that failed Wednesday, which would implement a property tax freeze, is also being reconsidered.
Six of the seven Grand Bargain bills that successfully passed the Senate Wednesday were introduced into House record Thursday.