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THE COST OF CHAOS RISING: RAUNER’S BUDGET GAP GROWS TO $5 BILLION

Senators Harmon, Steans and ManarSenate Fiscal Heads Repeat Demand for Rauner to Get Out of the Way

A state financial report released this week by the General Assembly’s Commission on Government Forecasting and Accountability (COGFA) projects that state FY18 revenues are $329 million less than Governor Rauner’s estimates of $32.7 billion. The drop means that Rauner’s budget blueprint is unbalanced by nearly $5 billion.
 
The Senate’s budget and revenue committee heads say the new estimates aren’t impossible to overcome, so long as the governor ends his behind-the-scenes antics that have derailed the Senate’s bipartisan compromises.
 
Senator Toi Hutchinson (Chair of Senate Revenue Committee)
“We know today that the governor’s budget is wildly out of balance - by $5 billion. That’s an alarming figure. What is abundantly clear is that not telling the truth about Illinois’ revenue crisis is disingenuous at best. The simple fact is part of the solution requires straightforward honesty with the public about the need for revenue.”   
 
Senator Heather Steans (Chair of the Senate Appropriations I Committee)
“There remains a determination to strike a compromise to provide what Illinois needs more than anything else right now: stability. Fiscal stability, stability for countless service providers and stability for our business community. Taking another few hundred million dollars out of the formula is a hurdle, but I’m confident we can complete the task to address Bruce Rauner’s $5 billion out-of-balance budget design. To make that task easier, it’s helpful if the governor ends his ideological meddling.”
 
Senator Andy Manar (Chair of the Senate Appropriations II Committee)
“The drop in revenue makes Bruce Rauner’s phony budget $5 billion out of whack and counting. Every day Bruce Rauner interferes, it adds $11 million dollars onto the growing pile of debt and makes his budget even more out of balance. The Senate remains committed to doing the job to fix the chaos the governor’s created.”