May 27, 2015
At a press conference on Monday, Ill. House Speaker Michael Madigan announced that the Ill. House of Representatives Democrats have released their own budget that will preserve over $5 billion in proposed cuts made by Ill. Gov. Bruce Rauner in his budget.
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Ill. State Democrats Release New Budget Proposition
Ill. House of Representatives Democrats proposed a $36 billion budget for fiscal year 2016 (FY2016) on Monday. The budget would avoid nearly $5 billion in spending cuts present in Ill. Gov. Bruce Rauner’s $32 billion “Illinois Turnaround” budget released in February. According to Article VIII - Section II of the Illinois Constitution, the governor is required to prepare and submit a state budget to the Ill. General Assembly (IGA) for the upcoming fiscal year. The budget sets forth the estimated balance of funds available for appropriation at the beginning of the fiscal year, the estimated receipts, and a plan for expenditures during the fiscal year. The new fiscal year begins on July 1.