In his sixth budget proposal, the Illinois Governor also laid out a long-term plan to solve the massive pension debt by increasing the funding target to 100% from 90%.
The budget of the Illinois Governor includes a plan to tackle the pension debt of the State
The budget proposal of the Illinois Governor comes as the state’s fiscal health is wavering. The state is facing an estimated $900 million deficit in the upcoming fiscal year, this is because of the migrant crisis and pension costs.
The budget proposal of the Illinois Governor also calls for $800 million in new tax hikes for larger businesses and the sports betting industry. Illinois Governor is asking Illinois lawmakers to back his plan for more than $181 million to address the state’s migrant crisis.
The Illinois Governor promised Mayor Brandon Johnson and Cook County President Toni Preckwinkle that Illinois would pay more than half the tab for services to care for more than 35,000 migrants coming to Illinois last year.
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Illinois Governor Seeks $10 Million to Erase Medical Debt for 364,000 Illinois Residents
Illinois Governor announced plans for a $12 million child tax credit for working parents with children under 3 years old He also promised to permanently eliminate the grocery store tax to help ease the burden of inflation on lower- and middle-income families.
In education, the Illinois governor wants to put $400 million toward preschool services, childcare workers, early intervention, and home visiting programs across Illinois.
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