GOVERNOR'S BUDGET ADDRESS LEAVES MANY UNANSWERED QUESTIONS
The Governor's recent budget address was probably the shortest one in history summing up the future of our state finances in less than thirty minutes. In this short amount of time, Governor Blagojevich proposed a payroll tax, more fund sweeps, possible fee increases a three percent cut in agency budgets and a tax cut. Not to mention the governor proposed to hand out $300 per child in households whose incomes are under $75,000 per year. This alone would cost the state of Illinois roughly $300 to $400 million, by using money we don't yet have from tobacco company lawsuit settlements, in an attempt to stimulate the Illinois economy. Many economist have already voiced their opinion that this economic stimulus package is not what the state needs. IFCA will continue to keep you posted on how the governor's budget proposal will impact our industry. Stay tuned as the next chapter unfolds in our budget dilemma.