Illinois could be 1st state with 'junk' credit due to budget

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Term limits has been a priority issue for Gov. Bruce Rauner, Republican lawmakers and residents of the state, and according to a poll by the Paul Simon Public Policy Institute, almost four out of five Illinoisans support term limits. He says that the willingness to negotiate is more than what has been seen in previous years.

Their return has so far been largely unproductive, marked by partisan bickering instead of budget talks with IL on the path to enter a third straight year without a spending plan in place beginning July 1. One day everybody will wake up and say 'What happened?

Property Tax: A four-year freeze in the state's property taxes, which are set by localities at an average rate of 2.25 percent and are estimated to be the second highest in the country. "We are talking about lots of things that today are protected by court order that will no longer be fully complied with". They're considering ideas that Governor Bruce Rauner has made a prerequisite for passing a balanced budget. Republicans have pushed a competing plan that would reduce such support. The House later held a hearing on changes to workers' compensation laws, though Republicans called it a "stall tactic".

Since then, focus, and pressure, has been on the House, where there has as yet been no attempt to pass a budget.

"Gov. Rauner inherited this financial mess when he took office, and his proposals have been met by resentment from the speaker", Deputy House Republican Leader Dan Brady said. Madigan said one would be "forthcoming very shortly".

Madigan's comments followed a closed-door meeting with House Minority Leader Jim Durkin (R-Western Springs), Senate Majority Leader John Cullerton (D-Chicago) and Senate Minority Leader Christine Radogno (R-Lemont) on Sunday in which they discussed solutions to the budget crisis and some of the most prominent issues afflicting the state.

Their latest dispute is over who of General Assembly's four top legislators should meet, and with whom.

This news led Standard and Poors to cut Illinois' worst-in-the-nation credit rating even further, which is expected to raise its debt payments significantly. They also want a four-year freeze on local property taxes in exchange for a four-year income tax increase. Durkin said following the meeting that there can be a "reconciliation" between the different versions of funding reform. She toed the party line by supporting House Speaker Mike Madigan's disastrous agenda, voted for his controversial speakership, advocated for disastrous “pension holidays, ” and helped pass the largest tax increase in IL history. "He's attempting to enact an extreme right-wing agenda on the people of IL".

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