Illinois House leader: No vote on budget this weekend

IL lawmakers voted to override Gov. Bruce Rauner's veto of legislation to continue funding 911 emergency call centers. But, they didn't hold up their end of the deal.

Lawmakers have blown through two deadlines to pass a balanced budget, and IL is in Day Two of its third consecutive fiscal year without one.

"I would ask that bond rating agencies temporarily withhold judgment and allow legislators time to negotiate a bipartisan, balanced budget", said Michael Madigan, the Democratic speaker of the Illinois House of Representatives.

The House still has to vote again on the spending bill, along with a revenue package. "Illinois is now at risk of entering a negative credit spiral, where downgraded credit ratings would trigger contingent demands on state liquidity, further exacerbating its fiscal distress". That's the longest impasse of any state since at least the Great Depression.

He is asking the bond rating agencies to give them a few days before dropping the state to junk status. It relies on more than $2 billion in spending cuts and a likely increase in the income tax to raise $5 billion.

Brian Mackey reports on IL beginning a third fiscal year without a budget. "Saying that we're done today, come back tomorrow.to me, it speaks for itself".

Representative Pritchard says that the budget will bring a new day to IL. House members approved the latest proposal in a preliminary vote Friday before adjourning. He also wants a freeze on local property taxes, which are among the highest in the nation.

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A $36.5 billion plan to rebuild Illinois' crumbling finances passed a critical test on Friday, but a final deal hasn't been reached.

Syverson said a budget agreement would be impossible without a tax increase, but the new revenue must go toward paying the state's bills and not new spending, which is what had been done with the money raised from former Gov.

Rauner has demanded cost-cutting changes to workers' compensation laws, which he says are needed to lure businesses to IL.

"We adopted an amendment to a bill that would be the spending plan for the state of IL".

In addition to the budget, the meetings focused on issues demanded by Rauner.

The two sides appeared to be getting closer to an agreement when almost two dozen Republicans joined Democrats in voting Friday for an amendment to a budget bill that seeks to spend about $36.5 billion.

State Sen. Dave Syverson, R-Rockford, said Friday's vote was nearly meaningless as the bill would require Senate concurrence and it is still unclear how the other half of the General Assembly would vote.

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