COVER STORY
Legislative Recap
After a busy and productive legislative session, we passed another balanced State budget – again proving that we can be both compassionate and fiscally responsible. Although I don’t agree with every single line item in this 1,400-page budget, I am proud that the State of Illinois is committing
resources to programs and services that expand opportunity and create a brighter future for people throughout Illinois. The budget for the next fiscal year continues the work of rebuilding Illinois’ fiscal house. Our rainy day fund has grown to more than $1.7 billion, which will help us keep things running if revenues come up short in future years. We are also stabilizing Illinois’ public pension systems by going above and beyond our required pension payment to reduce liabilities. With smart decision-making, we’ve paid down debt and earned our state eight credit rating increases in less than two years.
We’re continuing to support public schools by committing $350 million in new funding for classroom education in this budget. Over the last four years, we’ve put more than $1.3 billion in new funds into our public school classrooms. We’re also helping to make college more affordable by making major investments in college financial aid programs, including $100 million in new funding for the MAP grant program, for Illinois students with demonstrated financial need. We’re also expanding the AIM HIGH scholarship program, which provides funds to Illinois students who attend one of our great public universities. Our budget also gives communities some additional tools to hold the line on property taxes by committing more than $100 million in new funding through the local government distributive fund.
We still have lots of work ahead of us, but this new budget demonstrates continuing fiscal responsibility while prioritizing investments that will build our economy and strengthen communities across our state.
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