Question of Balance: Analysts Talk State Budget, Pension Reform


Gov. J.B. Pritzker appears at a signing ceremony for the $40 billion spending plan Wednesday, June 5, 2019. Gov. J.B. Pritzker appears at a signing ceremony for the $40 billion spending plan Wednesday, June 5, 2019.

Illinois has a balanced budget and a path to fully fund pensions over time. That’s what Gov. J.B. Pritzker and lawmakers claimed after passing and signing into law a new state budget earlier this month.

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Although the governor claims the $40.1 billion spending plan will also generate $150 million in surplus, Illinois still faces a series of financial hurdles. Among them: $134 billion in unfunded pension liabilities and more than $7 billion in outstanding bills.

Should Illinois taxpayers be relieved by the budget, or wary of it?

Joining us with their take on that question and others: Jeff Schoenberg, a principal with Schoenberg Impact Advisors who is a former state senator and state representative from Evanston; and Adam Schuster, director of Budget and Tax Research at the Illinois Policy Institute.

Note: This story will be updated with video.


Related stories:

State Leader Defends Personal Stake in Illinois’ Gambling Industry

Illinois Has a New State Budget. Will It Help Fix Fiscal Woes?

Recapping an ‘Extraordinarily Productive’ Legislative Session


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