Tough medicine on Medicaid and pension reform from Gov. Pat Quinn. Will he get lawmakers to sign on, and will it really solve Illinois' money problems? The governor joins us on Chicago Tonight at 7:00 pm.
On April 19, Quinn announced a plan to stabilize Illinois' Medicaid system and prevent collapse of the program. The governor's plan creates $2.7 billion in Medicaid savings -- which includes more than $2 billion in Medicaid reductions and federal matching funds from additional revenues on tobacco products. Gov. Quinn discusses the plan in the following video.
On April 20, Quinn announced a plan that secures public workers' retirement while fixing the state's pension problem that has been created over decades of fiscal mismanagement. The proposal is expected to save taxpayers $65 to $85 billion based on current actuarial assumptions. The governor says the changes will lead to greater certainty in Illinois' business climate, respond to concerns from ratings' agencies regarding the state's unfunded pension liability and support the continuation of the state's capital plan that is putting hundreds of thousands of Illinois residents back to work. Quinn discusses the plan in the following video.
Visit the PDFs below for more information on Pensions and Medicaid.