With revised and confirmed revenue numbers in hand, members of the House Republican Caucus reiterated their belief on Thursday that the Fiscal Year 2020 (FY20) budget can be balanced without any tax increases.
“Working groups, which made difficult decisions earlier this year to create balanced budgets with no new revenue, need to reconvene,” said State Representative Tom Demmer (R-Dixon). “Revised revenue numbers that have been confirmed by the Governor’s Office of Management and Budget (GOMB), the Department of Revenue and the Commission on Government Forecasting and Accountability (COGFA) show us we will have, at a minimum, an additional $1.2 billion in new revenue for FY20. Combined with revenue-generating initiatives like sports betting and other measures that would not tax Illinoisans, there is an additional $2.64 billion available to help balance next year’s budget. Budget working groups need to get back to work.”
Despite the new revenue and opportunities to increase revenues without adding new taxes, Democrats are not backing away from proposals to tax bags, cigarettes and vaping materials, and other items. Republicans are firm in their belief that these taxes are not necessary.
“Our message is clear,” added Demmer. “There are options other than tax increases to be able to support a reasonable and sound budget plan for FY20, but it requires engaging rank and file members from both parties who must represent their caucus and their individual home districts.”
Click here to watch the press conference.