Pat Quinn’s New Illinois Budget Plan Dumps Tax Increase–For Now–Targets More Pension Borrowing

(Springfield, IL) – From the Department of New Budget Plans By The Minute, Governor Pat Quinn is dumping his plan for an income tax increase from 3% to 4.5%–at least until fall–and now wants a temporary 5-month budget built–which he recently opposed.

Additionally, Quinn wants to float $3.5 billion in 5-year pension obligation bonds instead of the

State Rep. John Fritchey (D-Chicago)

originally proposed $2.2 billion plan, according to a tweet from State Rep. John Fritchey during a meeting with Governor Quinn in Springfield on Friday, July 10.

Quinn’s objective with the new FY 2010 budget scheme is to fund Illinois human service providers at 90% of FY 2009 levels instead of at the 50% level approved by the Illinois General Assembly–SB 1197–a.k.a. the Illinois Doomsday Budget–and vetoed by Quinn.

Even with the extra dough in hand, Quinn still intends to cut the state operations budget by $1 billion, which boots 2,600 state employees out of jobs–1,000 alone from the Illinois Department of Corrections. That move could lead to the politically risky early-release of 6,000 non-violent drug offenders. Oy.

Quinn’s new plan, however, failed to inspire a whiff of confidence in Fritchey. “This meeting with the Gov. and his staff is not giving me a good feeling about session next week,” the Chicago lawmaker tweeted.

Quinn recently and obliquely noted his shifting support from various budget plans. “There are many ways to get to heaven,” Quinn said a few days ago after another flip. Ok, points for optimism.

Quinn and the legislative leaders–House Speaker Michael Madigan, House Minority Leader Tom Cross, Senate President John Cullerton, and Senate Minority Leader Christine Radogno meet to continue negotiations in Springfield on Monday at 5:00 p.m.

Perhaps Quinn and the leaders will cobble, paste, and wire together a ramshackle budget deal that will allow the Illinois to sputter and wheeze forward for few months. Or not.