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Senate advances budget package for action in new General Assembly (VIDEO)

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Senate President John Cullerton and Senate Minority Leader Christine Radogno spoke together about a legislative package in the works to address the state's long-standing budget impass. In a press conference on Monday, the two pointed out areas of bipartisan agreement and some yet to be resolved in a package spanning issues from pensions to term limits to property taxes.

Both leaders acknowledged the need for cooperation and an end to the standoff and, without setting specific deadlines, suggested an aggressive timeline for completing negotiations and passing the laws early in the new General Assembly.

"We have a lot of realities to face," said Pres. Cullerton. "I think we in the Senate recognize a lot of the problems and we are potentially close to an agreement on how to solve them. We’re not quite there and so our plan is to refile these bills, they will be quickly assigned to committees where we can get public input, get them out to the floor and pass them over to the House."

While many details are still in the works, the package includes elements to freeze property taxes, pay overdue bills, expand gaming, eliminate lawmaker pensions, set term limits for leaders and raise the minimum wage.