The Quinn administration released its estimated budget (PDF) for fiscal year 2011 this afternoon and the numbers aren't pretty. Facing a massive deficit, Gov. Quinn has proposed cutting just over $2 billion from the state's general revenue fund. Education takes the biggest hit ($1.32 billion), followed by human services ($386 million), and public safety ($69 million).
Even with the cuts, Illinois will still be deep in the red. After making required pension contributions and debt service and reduction payments for outstanding loans, lawmakers will need to close a $5.3 billion operating budget by the end of the year. Using these projections, the state would also carry a massive $11 billion in unpaid bills into 2012. That means more payroll issues for schools, doctors, and other service providers.
Look for Quinn and other proponents of raising the income tax to use this preliminary budget as they argue for new revenue.
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