Lawmakers at odds over surprise $1.5 billion surplus
Illinois collected $1.5 billion more than expected last month, a windfall that could wipe out most the state's budget shortfall and help avoid a proposed pension holiday, but lawmakers disagree on what to do with the surplus.
Illinois House Republicans want Gov. J.B. Pritzker and Democrats to end calls for increasing taxes now or in the future. The state’s comptroller urged caution.
State government collected 38 percent more from taxpayers in April than it did a year ago, House Majority Leader Greg Harris wrote in a letter to lawmakers.
The revenue is $1.5 billion more than projected for the month, Harris said. That boost will help address most of the budget shortfall and Harris said the governor wants to use the surplus to pay pensions at statutorily required levels instead of moving ahead with a proposed pension holiday that was widely criticized.
Read more: https://www.ilnews.org/news/state_politics/lawmakers-at-odds-over-surprise-billion-surplus/article_33aa4aea-71d1-11e9-a155-b38bdf85d100.html
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