Republican leaders in the General Assembly introduced resolutions in the Illinois Senate and House this week calling on a revenue estimate to be certified for the upcoming Fiscal Year 2019 budget, which begins July 1.
The resolutions, announced by Senate Republican Leader Bill Brady and House Republican Leader Jim Durkin, are an important step forward as a revenue estimate will help the budgeteers currently meeting to work toward a balanced budget.
The Commission of Government Forecasting and Accountability and the Bureau of the Budget provide the Legislature with revenue estimates every year.
Meanwhile, Senate Republicans are pushing legislation that would put a cap on state spending while also linking the growth of state spending to the growth in the state’s economy.
Republicans say the plan is a good way to ensure state government doesn’t overspend, and is also a critical reform that can set Illinois on a long-term, sound fiscal path.