We also believe that IL is now at risk of entering a negative credit spiral, where downgraded credit ratings would trigger contingent demands on state liquidity, further exacerbating its fiscal distress. Comptroller Susana Mendoza's office warns the state is "about to reach the breaking point at which court-ordered payments will exceed the state's revenues". State Comptroller Susana Mendoza, who said that Rauner "has been an abject failure in his duty" to present a balanced budget for the General Assembly to act on, also warned of 'dire consequences'.
Gov. Bruce Rauner holds a press conference at the Illinois General Assembly at the Capitol in Springfield, Ill., Wednesday, May 31, 2017.
"Some of our people are concerned, having observed how the governor worked with the Senate Democrats, where he would negotiate, then back away, negotiate, back away", Madigan said.
Marchers contend their proposal would raise $23 billion to finance universal health care and free college tuition and fully fund public schools, social services and infrastructure needs by closing so-called corporate tax loopholes and taxing the wealthy at higher rates.
It's unclear whether Gov. Bruce Rauner will sign the bill.
Democratic Senate President John Cullerton of Chicago pushed two property-tax freezes measures through the Senate Tuesday. But Rauner threatened to veto the plan and the House didn't vote on it.
The senator says that Democrats took all of the Governor's improvements into consideration and he has never seen anything like this before in Springfield. If the House and Senate don't approve one by a simple majority before midnight, it would take a three-fifths supermajority. "While the governor blames everyone but himself for his budget crisis, Illinois' students, seniors, and economy continue to suffer", the group said in a statement.
IL also recently voted to raise its minimum wage to $15 per hour over the next five years.
"As a new fiscal year quickly approaches with no budget yet in place, the governor's approach of refusing to negotiate a budget is setting our state on a course for a third straight year of impasse and destruction". IL senators endorsed Wednesday night a measure to raise the minimum wage to $15 by 2022.
"CPS wins the lottery and the downstate districts have to foot the bill", said Republican Sen.
An Illinois House panel has endorsed a plan to make it easier to consolidate local governments. "Democrats come up to me and say, 'Governor, stay strong". The governor talks about a property tax freeze, and I've gone even further, voting to cut taxes on all IL homeowners. While the revenue bill that included an income-tax hike made it through a House committee this week, House Democrats said there was more work to do to try to get support for the package.
"This is a phony two-year freeze riddled with holes being offered in exchange for a very real and permanent, massive tax hike", Rauner spokeswoman Eleni Demertzis said.