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Your legislators need to hear that you don't want them to leave Springfield until they pass a responsible budget.

On April 21, 15,000 people from across Illinois marched at the State Capitol with the Responsible Budget Coalition to press lawmakers to solve the budget crisis. The funding crisis threatens a broad array of state-funded programs, including the public schools and human services.

The conventional wisdom is that raising revenue cannot be done this spring. However, underneath the conventional wisdom is the growing realization among legislators that Illinois really does need a responsible budge—and Illinois needs it now, not some later date.

To build on the momentum, our elected officials need to understand that there is political peril in store for them in failing to enact a responsible budget.

The state will start FY11—next fiscal year—with a deficit of more than $12 billion, including at least:

• $6 billion in one-time revenue used for this year's budget.
• $4 billion in unpaid bills.
• $1.2 billion in required pension payments.
• $800 million in debt service.

This does not include the revenue needed to reverse funding cuts in the current budget year. The current (FY10) state budget of $26 billion represents a 10% cut from FY09 levels.

The gaping hole in Illinois State Budget illustrates the need for a comprehensive tax-reform package following the framework of House Bill 174.

HB 174 would:

1. Raise $5.6 billion to $6 billion in new, recurring tax revenues by:
• Increasing the individual income tax rate from 3% to 5%.
• Raising the corporate income tax rate from 4.8% to 5%.
• Applying the state sales tax to luxury services previously untaxed.

2. Relieve tax burdened families by:
• Increasing the personal exemption from $2,000 to $3,000.
• Doubling the property tax credit from 5% to 10% (capped at $1,500).
• Tripling the state Earned Income Tax Credit (EITC) for low-income working families from 5% to 15% of the federal EITC claimed.

A typical family of four earnings $40,000 or less would either break even or pay less in taxes.

The General Assembly is scheduled to adjourn on May 7. Please contact your state legislators and tell them you don't want them to leave Springfield until they pass a responsible budget, including a comprehensive tax-reform package following the framework of HB 174.

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Your State Representative
Your State Senator

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This Action Alert Campaign is Closed.