A Solution for Illinois' Budget Disaster -- How to Save 7 Billion Dollars
This is the Illinois Policy Institute’s fourth annual alternative vision for Illinois. In this report, we’ve charted a path that significantly reduces the state’s backlog of bills without borrowing and without new taxes, while meeting its pension liabilities. In addition, the state returns billions of dollars to taxpayers by repealing the January 2011 tax hikes. Our vision allows for an Illinois that puts taxpayers first, restrains state spending and puts the state back on the path to fiscal solvency.
In previous editions of Budget Solutions, the Institute has crafted viable, line-by-line alternatives to the plans advanced by the governor and the legislature. Each year, we proposed reforms that would have erased deficits without a tax hike. Lawmakers instead chose to continue taxing and spending, and today the state’s backlog of bills has climbed to $8.5 billion. Now is the opportunity to end Illinois’ legacy of fiscal mismanagement and chart a new course. Budget Solutions 2013 offers one such course.
Read more at the Illinois Policy Institute.