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Budget Ideas Keep Coming
As the scheduled Friday (May 7) adjournment rapidly approaches for the Illinois General Assembly, Illinois House Democrats are crafting an alternative to Gov. Pat Quinn's budget, which features an income tax hike.

The plan being worked out by House Democrats lists a series of ways to close a $6.3 billion deficit next year. The revenue-generating ideas include:

* $4 billion in borrowing, mostly for government pension payments
* Special fund sweeps
* $1 cigarette tax hike
* Tax amnesty program
* Securitizing tobacco settlement money.

Quinn seems to be softening on his income tax plan, saying that if the cigarette tax and other provisions raise enough money to stop cuts to schools, the budget is "getting in the right direction."

Senate President John Cullerton (D-Chicago) says he thinks the budget could be wrapped up on Thursday. House Speaker Michael Madigan (D-Chicago) has added Saturday to the schedule.

(Illinois Radio Network)
05 05 10 by Newsroom
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