you're reading...
Illinois Budget

Video: Next Year’s Illinois Budget Faces Turbulence, Says Top House Budget Lawmaker

(Chicago, IL) – December 16, 2011. The chair of a key Illinois House budget panel this week warned that next year’s state budget will be as “challenging” as the one lawmakers crafted earlier this year.

“Next year’s budget is going to be as much of a challenge as last year’s,” said State Rep. Sara Feigenholtz (D-Chicago), Chair of the House Human Services Appropriations Committee.

Feigenholtz noted that a $1 billion increase in the state’s pension payment now is expected for next year.

“Fiscal Year 2013 brings us an additional $1 billion pension payment that we just learned about a few weeks ago,” said Feigenholtz. “And we have to pay the pension payment first.”

In the current budget, the state is paying $4.9 billion into five separate pension systems. Next year that amount jumps to $5.9.

Additionally, the state will need to pay approximately $3.2 billion to service outstanding state debt.

The combined pension and debt payments of $9.1 billion, which will consume nearly 30% of the state’s $32.2 billion budget, will exceed the $6.8 billion estimated to be generated from the income tax increase enacted by lawmakers earlier in the year.

Feigenholtz, who cut $1.2 billion from the state human services budget proposed by Governor Pat Quinn in February, says more budget austerity is on the way.

“We will continue to do more with less in 2013 because we have no choice,” said Feigenholtz.

About David Ormsby

David, a public relations consultant and blogger at The Huffington Post, is an ex-Press Secretary of the Illinois Democratic Party.


One Response to “Video: Next Year’s Illinois Budget Faces Turbulence, Says Top House Budget Lawmaker”

  1. Good video, David–valuable blog–Springfield is SO undercovered–and I bet you can explain it all to us. Keep those posts coming!

    Posted by Susan Barsy | December 17, 2011, 8:04 AM

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Connecting to %s

Submit your email address and be among the first to receive our posts by e-mail as soon as they are published. It's free.

David Ormsby, Editor

RSS Gov. Pat Quinn

  • Pat Quinn On Gay Marriage: Illinois Governor Endorses Marriage ... The Huffington Post News Editors
  • Hon. Pat Quinn, Governor, State of Illinois « City Club Chicago Videos city club chicago
  • Home Health Care News: Bad Move? Illinois Gov. Pat Quinn wants ... Valerie VanBooven
  • Governor Pat Quinn Puts His Foot Down On Gambling Expansion ... Mark
  • Quinn Launches “Save Our State" Website | Chicago Tonight | WTTW Yasmin Rammohan
  • Teachers picket against pension changes : News : ConnectTriStates ... KHQA Newsdesk
  • Detective Shaved Longcock: Gov Quinn coughs up over $73 ... Det. Shaved Longcock
  • Ill. Gov. Pat Quinn stepped up his public - ADF Alliance Alert » news ... ADF Alliance Alert
  • Illinois Gov. Pat Quinn Endorses Gay Marriage unknown

RSS IL General Assembly

  • Illinois General Assembly Approves Money to Keep Day Care Center Open, Bill ... - WJBD Online May 18, 2012
  • State's Minimum Wage Could Become Highest in Country - Patch.com May 18, 2012
  • General Assembly puts health exchange bill on back burner - Crain's Chicago Business May 10, 2012
  • Legislative update: Budget, pension, Medicaid await Illinois General Assembly ... - NIU Today May 15, 2012
  • American Progressive Bag Alliance Urges Illinois General Assembly To Pass ... - MarketWatch (press release) May 1, 2012
  • Personal property tax diversion goes nowhere in legislature - The State Journal-Register May 16, 2012
  • American Progressive Bag Alliance Urges Illinois General Assembly To Pass ... - PR Newswire (press release) May 1, 2012
  • Feds give Illinois more money for insurance exchange as Legislature stalls - Crain's Chicago Business May 17, 2012
  • Chicago Cubs, Obama controversy part of final days of legislative session - Examiner.com May 19, 2012
  • Our View: Illinois pensions, casinos and Rockford's new bishop in stew - Rockford Register Star May 13, 2012

RSS The Capitol Fax Blog

  • Reader comments closed for the weekend May 18, 2012 Rich Miller
  • Chicago Tribune: Coal plant closures could send electricity costs soaring May 18, 2012 Advertising Department
  • Protected: *** UPDATED x5 *** SUBSCRIBERS ONLY: This just in… May 18, 2012 Rich Miller
  • Question of the day May 18, 2012 Rich Miller
  • OK, so where’s your plan? May 18, 2012 Rich Miller
  • Caption contest! May 18, 2012 Rich Miller
  • Topinka: Cigarette tax hike a “common sense solution” May 18, 2012 Rich Miller
  • Slots at tracks a possibility? Maybe May 18, 2012 Rich Miller
  • AFSCME loses appeal over canceled raises May 18, 2012 Rich Miller
  • *** UPDATED x2 - Ricketts gave preliminary approval, lauded TV ad *** Cubs owners try damage control May 18, 2012 Rich Miller

Get every new post delivered to your Inbox.

Join 136 other followers

Powered by WordPress.com