A new budget proposal has been submitted at the state house. Negotiators, a group that does not include the leaders or Governor has been meeting for months and they now have something to show for it.
The balanced budget contains cuts and tax increases, but increases in revenue outpace cuts by about 2 to 1. Governor Bruce Rauner says that he wants to take a long look at it before saying if it’s the right thing to do.
Governor Bruce Rauner says time is running out for lawmakers to carve an easier path to passing what he’s sees as a potential grand bargain.
The bill would borrow $5 billion to pay down a backlog of bills, with the borrowing set to be paid down over 5 years. In total the revenue hike is $5.4 billion to go along with $2.4 billion in cuts.