By: Ashmar Mandou

The Illinois Policy Institute introduced a budget reform plan that balances the state budget and closes Illinois’ projected $7.1 billion budget deficit without a tax increase on Monday. The plan offers struggling homeowners property tax relief, and reforms pensions in a way that complies with the Illinois Constitution. It calls for changes to state government that will put Illinois on a better economic path, including right-sizing state worker benefits and reprioritizing higher education spending. The plan was released at press conferences in Springfield and Chicago on Tuesday morning. In Chicago, CEO John Tillman was joined by state Reps. Jeanne Ives and Allen Skillicorn and in Springfield, the Institute’s Vice President of Policy presented the proposal, which is titled “Budget Solutions 2018.” “Politicians have not earned the right to ask Illinoisans for more money,” Illinois Policy Institute CEO John Tillman said. “Our plan, unlike every other budget plan being discussed, ensures that taxpayers are respected and treated fairly instead of being treated like an ATM machine to pay for the past mistakes of elected officials.” Illinois Policy Institute’s budget proposal calls for reforms in five major policy areas, including:

• Comprehensive property tax reform: $3.4 billion in savings
• Ending Illinois’ pension crisis through self-managed plans: $1.65 billion less than baseline
• Aligning AFSCME costs with what taxpayers can afford: $1.1 billion in savings
• Streamlining Medicaid spending: $415 million in savings
• Higher education reform that prioritizes students over administrators: $500 million in savings

This budget proposal aims to provide immediate relief for taxpayers through a five-year property tax freeze, but is also a comprehensive plan to put the state on a better economic path going forward by enacting long-overdue spending reform. The Illinois Policy Institute’s budget proposal “Budget Solutions 2018” is available at illin.is/budgetsolutions.