Statement from IL House Speaker Madigan On Passing a Balanced Budget

Illinois Countdown to Junk Status Continues

State Budget Battle: "Enough is Enough" for IL Senior Advocates

Because lawmakers never passed a budget accounting for the rollback of the income tax increase, IL is still spending more money than it has coming in.

Retiring Senate Republican Leader, Christine Radogno, says Madigan's failure to call a budget vote ensures bad news from Wall Street. But they're due back Saturday.

IL is already on track for record spending in the governor's race; Republicans are also attempting to make dents in Democrats' legislative majorities. As a result, the House will remain in session.

Democratic Representative Lou Lang says the overwhelmingly bipartisan support of the spending bill from Friday's vote will send it to the Senate.

Lawmakers in Springfield have blown the deadline for okaying a state budget for a record three-years in a row.

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The bitter partisan divide in Springfield over how to come together on a spending plan has eased in significant part to cooperation as Republicans and Democrats alike work to avoid the nightmare scenario that experts warn will come to pass if a budget isn't finalized, and fast.

Mr. Harris is an ally of Democratic. "So this will be a moment of truth". "(State political leaders) have got to find a solution on both sides of the aisle and it has to be a solution that is good for all of IL, including schools and businesses".

"I know the people in this room are here to do the right thing", said Rep. Steve Andersson, R-Geneva, "and I know today we're going to do the right thing. We have a chance to save this state, and I hope we don't squander it".

After two years of gamesmanship, gridlock and ever-deepening fiscal turmoil, Illinois saw a potential breakthrough Friday morning, when a $36.5 billion spending plan cleared a major hurdle in the Illinois House.

Cardenas said the lack of a budget affects the state's roads and traffic lights, because there's no money to fix them.

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"We're close. We're close".

Many say the state's massive spending and pension debt is hurting economic development.

Without a budget, the state comptroller will be unable to cover basic services ordered by courts, road construction shuts down, Powerball ticket sales have halted, and the state's credit rating could be downgraded to "junk". It relies on more than $2 billion in spending cuts and a likely increase in the income tax to raise $5 billion. The proposed $5 billion income tax needed to fund the budget.

It's been two years since the state has had a fully balanced annual budget. "It is ready to go to the governor's signature", Harris says. "We had great momentum yesterday in this chamber.

There's much work yet to be done", Madigan said. "He's brought all these issues before the legislature".

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We will continue working to put a compromise on the governor's desk and end this impasse through the next week, and I ask you to allow these negotiations to move forward.

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