· $7 billion out-of-balance budget passed by House Democrats. Illinois House Democrats introduced their own “budget” for FY17, contained in House Floor Amendment #2 to SB 2048, undermining the work of the bipartisan budget working groups that had been making progress toward achieving a compromise to end the budget impasse.
The House Democrats’ budget weighs in at approximately $40 billion in spending with only $33 billion in estimated revenue. The Democrats unbalanced, unconstitutional proposed budget is $7 billion out-of-balance and would require a 47% tax hike to pay for all the additional spending.
House Republicans were denied a vote verification for a 500-page bill that was introduced a mere 90-minutes before it was called for debate on the House Floor. Democrats then limited the debate to less than an hour with a parliamentarian move. The first vote on Wednesday, May 25, was 63-53-1. There was a second vote on Thursday and the measure was passed again by a vote of 60-53-1.
By spending at least $7 billion more than Illinois expects to take in during the spending period, the measure is seen as likely to raise the count of unpaid Illinois bills up to or above $15 billion. Illinois is already the lowest-ranked of the 50 states in terms of credit rating. The controversial measure was sent to the state Senate for further discussion and debate. Governor Rauner has pledged to take veto action on the SB 2048 “budget” bill, should it get to his desk.