State Budgets 2012: Illinois

 

Illinois


To see more state budget news and information, visit State Budgets 2012

Budget Background:

  • Fiscal Year Begins: July 
  • Frequency of Legislative Cycle: Annual
  • Legislative Session for 2012: Convened January 11, 2012
  • Frequency of Budget Cycle: Annual

Learn more from the National Association of State Budget Officers


Budget News and Information: 2012

 

6/21/12: Auditor: Total Illinois Deficit Over $43 Billion

The Illinois budget news just keeps getting worse. State Auditor General William Holland said Thursday the overall state budget deficit passed the $43 billion mark last year, making it easily the worst in the nation.

Read more: The Chicago Sun-Times

 

6/14/12: Illinois Medicaid Cuts: Gov. Pat Quinn $1.6 Billion In Medicaid Cuts, Cigarette Tax Hike Into Law

Democratic Illinois Gov. Pat Quinn on Thursday signed a package of legislation -- including $1.6 billion worth of Medicaid cuts and a $1-per-pack cigarette tax hike -- into law.

Read more: The Huffington Post

 

6/5/12: Illinois Budget: Schools Could Face Major Spending Cuts

Not only did the $33.7 billion spending plan approved by lawmakers last week cut general state aid to schools by $161 million, but it remains unknown whether the General Assembly and Gov. Pat Quinn will move forward with a plan to shift the cost of teacher pensions from the state to local school districts.

Read more: Quad-City Times

 

6/1/12: Pension Cuts Postponed in Illinois Legislature

The Illinois Legislature's spring session may be over, but the work isn't. The governor and legislative leaders say they'll call lawmakers back to Springfield soon for another try at controlling pension costs that contribute to the state's deep budget problems.

Read more: Bloomberg Businessweek

 

4/27/12: Illinois to Test Investor Appetite with $1.8 Billion Deal

Illinois will see next week if yield-hungry investors will continue to snap up its bonds despite concerns about its huge unfunded pension liability and structural budget deficit.

Read more: The Chicago Tribune

 

4/13/12: Illinois Governor Unveils "Bold" Plan to Save Pensions

Illinois would shore up its sagging public employment retirement system under a plan outlined on Friday by Governor Pat Quinn that gives workers a choice between higher contributions and lower benefits.

Read more: Reuters

 

4/3/12: Quinn Announces Administration Reshuffling

A major shakeup in Gov. Pat Quinn’s administration took effect Monday, with his budget director headed to the Department of Commerce and Economic Opportunity and his senior adviser appointed acting chief of the budget office.

Read more: The State Journal-Register

 

3/30/12: Illinois Pension Reform Measure Passes House

A local government that gives an ex-lawmaker a fat paycheck would have to pick up the costs of any automatic increase in his state pension under a proposal the House passed overwhelmingly Thursday.

Read more: The Chicago Tribune

 

3/22/12: Quinn's proposed $2.7 Billion Medicaid Cut Might Be Biggest in Nation

Illinois may be trying to cut more from its Medicaid program in a shorter period of time than any other state, Illinois senators were told Thursday.

Read more: The State Journal-Register

 

3/15/12: Union Workers Protest Quinn Budget Cuts

Thousands of union workers gathered across Illinois today to protest Gov. Pat Quinn’s proposed budget cuts that include mass layoffs and the closure and consolidation of several state facilities, including prisons.

Read more: The Chicago Tribune

 

3/8/12: Policy Group: Illinois Needs to Slash $4.3 Billion from Budget

One of Illinois’ private, fiscal watchdogs says lawmakers need to slash billions, not just trim millions, from Gov. Pat Quinn’s proposed state budget.  The Illinois Policy Institute, a free-market think tank with a focus on Illinois’ fiscal policy, on Thursday released a budget proposal it says slashes more than $4 billion from the budget that Gov. Quinn introduced last month.

Read more: Illinois Statehouse News

 

3/7/12: Secretary of State: Layoffs, Closures Possible If Budget Cuts Too Deep

Illinois Secretary of State Jesse White said Wednesday some employees could face layoffs and some facilities might be closed even if state lawmakers don’t make further cuts in his proposed budget for next year.

Read more: The State Journal-Register

 

3/1/12: Illinois House Says Quinn Revenue Projections Too Optimistic

The House made the first move against Democratic Gov. Pat Quinn’s budget proposal Thursday, lowering the estimate of how much money the state should expect to take in next year by more than $200 million.

Read more: The Chicago Tribune

 


Budget News and Information: Previous Budget Cycles
 

4/26/11: Illinois Finishes Last in Paying for Pensions

A report released Monday shows Illinois has the nation's worst record on supporting government retirement funds, setting aside only 51 cents for every dollar it has promised to pay out.

Read more: Wall Street Journal
 

4/14/11: State Senate OKs Sweeping Education Changes

The Illinois Senate on Thursday night unanimously approved sweeping education changes that would make it easier to lengthen the school day in Chicago and dump bad teachers statewide while restricting teacher unions' ability to strike.

Read more: Chicago Tribune
 

3/16/11: Illinois Pension Crisis Eludes Easy Solutions

Lawmakers in Illinois say they may try to fix the state's ailing pension system by asking current workers to pay more into the plan, though the approach faces substantial legal and political obstacles.

Read more: The Wall Street Journal
 

3/16/11: Editorial: Raise Cigarette Tax $1 to Fund Road Plan

Senate President John Cullerton has proposed a sensible way to keep funding flowing until the legal challenge is resolved. He would increase the state’s cigarette tax by $1, to $1.98 per pack.

Read more: Chicago Sun-Times
 

3/15/11: Pro-Union Rally Held at Capitol

Union supporters gathered on the steps of the Illinois Capitol on Tuesday to stand in solidarity with workers in Ohio and Wisconsin who are facing alleged government-sponsored union busting.

Read more: The State Journal-Register
 

3/7/11: Ill. Superintendents Skeptical of Consolidation

School superintendents are skeptical of a plan from Gov. Pat Quinn to consolidate Illinois school districts in an effort to save millions by eliminating administrators' salaries. 

Read more: Chicago Tribune