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.
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.