Lawmakers Approach Finish Line Over Massive Deficit

Both the House and the Senate held repeated budget hearings last week to discuss estimated FY16 budget shortfalls of $6 billion to $8 billion, depending on how the red ink is counted.

Governor Rauner submitted a budget for FY16 to the General Assembly in February. Since that time, Democrats that opposes Rauner have repeatedly attacked budgetary adjustments made in this spending plan, but have neither generated a budget of their own nor issued a projection of State revenues from which a budget can be generated. The General Assembly is required to enact a budget for FY16, starting July 1, no later than May 31.