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Gov. Pat Quinn presented a $53 billion budget plan for fiscal year 2010 that will end an era of fiscal irresponsibility and mismanagement, and help struggling families during the worst financial crisis in Illinois' history.
“Illinois is staggering to pay an $11.5 billion deficit and has a mountain of unpaid bills,” Governor Quinn said in his speech to the 96th General Assembly. “Illinois’ economy is falling. Unemployment is rising, and our people are hurting. To be direct and honest – our state is facing the greatest crisis of modern times.”
The plan closes the budget gap of $4.3 billion for fiscal year 2009 and $7.3 billion for fiscal year 2010. The current recession, which is even deeper than economists predicted, has driven down revenues to unprecedented low levels, while demand on state services such as health care is increasing during such difficult times.
Governor Quinn’s budget plan contains $1.3 billion in cuts and uses a combination of fiscal tools to create the best possible way to solve the state’s short-term deficits without sacrificing long-term priorities. It calls for making tough choices, while maintaining a commitment to protect families.
Without action, state revenues would drop to fiscal year 2004 levels, leaving the state without proper funding for its core services such as health care, education and public safety.
The budget is framed around three core principles: Reform, Responsibility and Recovery. Please visit budget.illinois.gov to learn more. |
