CHICAGO (AP) — Illinois’ new state budget relies on more than $400 million in savings from a new pension buyout plan that finance experts caution is highly speculative and may not save as much money as lawmakers say. The budget sailed through the Legislature this week on a bipartisan vote, and Republican Gov. Bruce Rauner,…
SPRINGFIELD (AP) The Illinois House has adjourned and scheduled a Thursday session consider an override of a budget-deal veto. The fate of the nation’s longest-running state budget crisis since at least the Great Depression rests with the House, which lacked a quorum for action Wednesday. Gov. Bruce Rauner on Tuesday vetoed a package of legislation that…
SPRINGFIELD (KTRS) Looking to break an impasse that has left the state without a budget plan for more than two years, the Illinois Senate on Independence Day voted to override Gov. Bruce Rauner’s veto of the $36 billion budget proposal the chamber had passed earlier in the morning. The Illinois House will not immediately take…
SPRINGFIELD, Ill. (AP) – Illinois lawmakers are back to work after a dramatic vote in the House Sunday to increase income taxes by 32 percent. Attention turns to the Senate Monday as the budget measures the House endorsed move to that chamber for approval. The tax legislation increases the personal income tax rate from 3.75…
Chicago, IL (AP) – A new report says Illinois’ financial situation is so bad that the state would have to slash spending by more than 26 percent to balance next year’s budget through cuts alone. This morning, the nonprofit group, Civic Federation released its proposed five-year plan for stabilizing Illinois’ finances. The group says lawmakers’…
SPRINGFIELD, Ill. (AP) – Colleges and universities are again deciding whether to front grant money to low-income students who are supposed to be receiving state aid as Illinois’ budget remains uncertain. The Southern Illinoisan reports a survey recently released by the Illinois Student Assistance Commission suggests some schools that covered grants in the fall aren’t…
SPRINGFIELD, Ill. (AP) – Illinois’ public universities are being forced once again to plan to operate without state funding after going nearly the entire 2015-2016 school year without receiving any support amid the budget standoff between Republican Gov. Bruce Rauner and the Legislature’s Democratic leaders. The Herald & Review reports a six-month spending plan that…
Martin moderated a roundtable discussion about how the budgetary issues in Illinois are effecting and could effect the education system. The roundtable was brought to you by Ittner Architects.
SPRINGFIELD, Ill. (AP) – The Illinois Legislature plans to reconvene next week as the state approaches a second year without a budget. Senate President John Cullerton told members Thursday they should return to Springfield on Wednesday. The House also is expected to be in session. Lawmakers have been working on a stopgap budget to fund schools…
SPRINGFIELD, Ill. (AP) – Gov. Bruce Rauner says he doesn’t want to call the General Assembly into special session for votes on a budget even though there are just 10 days left in the fiscal year. The Republican told reporters Tuesday that special sessions in the recent past have produced only hotter tempers. Rauner says…