Gov. Bruce Rauner delivered his fourth and possibly final State of the State address in Springfield Jan. 31.
The governor took direct aim at a few politically popular issues. One focal point was a bill that would bar lawmakers from working as property tax attorneys. Another was term limits.
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Gov. Bruce Rauner delivered his fourth and possibly final State of the State address in Springfield Jan. 31.
The governor took direct aim at a few politically popular issues. One focal point was a bill that would bar lawmakers from working as property tax attorneys. Another was term limits.
But Rauner also gave a clue about his upcoming budget address, saying he would propose a balanced budget. If he can pull that off, it would be the first truly balanced budget his administration has proposed during his time in office.
Illinois’ most recent budget, the one lawmakers passed over the governor’s veto in July 2017, is emblematic of how the state became such a fiscal basket case. Despite a $5 billion tax hike, it already contains a deficit of more than $1 billion. And that deficit is projected to exceed $2 billion next fiscal year without spending reforms.
Much more daunting than the state’s massive budget deficit, however, is the deficit in residents’ certainty about the future and their trust in the state.
How can Illinois possibly dig its way out of all this debt? How much of the budget can pensions really eat up? When will the next tax hikes come – and how high will they be?
These have all become pressing questions because lawmakers have had free rein to grow spending far beyond what residents can afford.
From 2005-2015, state spending per capita grew 25 percent faster than per capita personal income in Illinois. Many communities saw an even greater disparity. In Rock Island County, for example, state spending per capita grew more than 70 percent faster than residents’ incomes over that time.