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COMPTROLLER MENDOZA COMMENDS GENERAL ASSEMBLY, GOVERNOR PRITZKER, FOR SIGNING A RESPONSIBLE BUDGET

Tuesday, April 19, 2022 

 

CHICAGO – Gov. JB Pritzker signed a historically responsible budget today: 

  • $1 billion for the Rainy Day Fund plus $45 million a year in future years. 
  • $500 million extra to pay down the pension shortfall, saving taxpayers $1.8 billion. 
  • An expansion of the Earned Income Tax Credit for low- and moderate-income Illinois taxpayers as well as property tax relief for taxpayers. 

“This is the most responsible budget a governor of either party has signed in Illinois in decades,” Comptroller Susana A. Mendoza said. “This is the result of years of hard work, with my office aggressively paying down the state’s unpaid bills for the last five years and the governor and legislators making wise choices not to spend all the money the state gets, but rather putting some aside to cover potential problems in the future.” 

“Importantly, we paid the state’s old bill backlog down from $16.7 billion to $3 billion last year before a penny of the federal stimulus money landed in state coffers,” Comptroller Mendoza added. “The state’s two credit upgrades likewise happened before the federal stimulus got here last year. This budget sends a clear signal to the credit rating agencies that Illinois is budgeting responsibly and merits further upgrades.” 

Comptroller Mendoza noted the significance of Gov. JB Pritzker signing the budget at Chicago State University. “For too long, successive administrations under-funded Illinois’ universities, leading too many Chicago students to leave Illinois to study. Properly funding Illinois’ universities is key to Illinois’ economic recovery,” Comptroller Mendoza said. 

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