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Senate President: Tax Hikes May Be Necessary
Illinois Senate President John Cullerton (D-Chicago) is thinking about tax and fee hikes. The Democrat admits that tax and fee hikes may have to be part of the solution to a troubled economy. He wants a $25 billion building and construction program to create jobs, and says at least lawmakers aren't looking at "gimmicks" -- like selling the lottery -- to pay for it

Cullerton says he's trying to explain the consequences to people who immediately oppose any tax or fee hikes. He says without more money, there will be "draconian cuts" to education and healthcare. State Comptroller Dan Hynes has projected that the state's budget deficit through next year will be at least $9 billion.

Cullerton's also looking at putting less money into state government pension funds. He says the state can cut what it sends to the pension funds if lawmakers cut pension benefits for future state government workers. The government pension systems are now only 40% funded, down from about 63% funded two years ago

(Illinois Radio Network)
03 07 09 by Newsroom
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