Elgin Area Chamber Of Commerce: Gov. Pritzker Delivers State Of The State Address

Elgin IL

04 February, 2022

2:31 AM

Description

Press release from the Elgin Area Chamber of Commerce: February 03, 2022 Gov. Pritzker Proposes Unprecedented Supplemental Pension Payment, Tripling Rainy Day Fund    Balanced Budget Provides $1 Billion in One-Time Relief for Grocery, Gas and Property Taxes     SPRINGFIELD – After years of working with the General Assembly to make fiscally responsible choices, protect working families and pay down Illinois' debt, Governor JB Pritzker today proposed his fourth balanced budget, delivering $1 billion in relief from grocery, gas and property taxes as well as making unprecedented payments to state pensions and the rainy day fund.   With revenues from corporate taxes, cannabis, online sales taxes and income far exceeding initial projections, the proposed budget provides significant one-time relief to families, while continuing the responsible fiscal decisions that led to two credit upgrades for the state.  Building on the administration's previous efficiencies, the budget invests in critical areas of growth and services, including education, public safety and small businesses.  Select highlights include:  Family Relief Plan  $475 million in property tax rebates for families, with a one -time property tax rebate payment to homeowners of 5% of property taxes paid, up to $300 for those eligible for a state income tax credit $360 million by freezing the state's tax on groceries, one of the most regressive taxes  $135 million by freezing the planned increase in the gas tax, which will not jeopardize any planned projects    Fiscal Responsibility  Additional $500 million directly to the Pension Stabilization Fund, reducing long-term liabilities by $1.8 billion  Adds nearly $900 million to the Rainy Day Fund over FY22 and FY23  Eliminates the $898 million owed for employee health insurance Saves $2 billion through strong fiscal management Investing in Education  $350 million increase for Evidence Based Funding for K-12 schools $96 million increase for transportation and special education  $54 million increase for Early Childhood Education  $300 million to Strengthen and Grow Childcare Grants  Increase MAP funding to $600 million, a one year $122 million increase, increasing the max award to 50% of tuition at public universities and expands eligibility to students enrolled in short-term certificate programs Pays off the $230 million unfunded liability for College Illinois! Increases funding for minority teacher scholarships   Strengthening Healthcare  Waives licensing fees for nearly 470,000 frontline healthcare workers  $180 million to preserve and expand the healthcare workforce, through Medicaid providers - focusing on underserved and rural areas  $140 million to mental health care providers through rate enhancements $70 million to 9-8-8 call centers and crisis response services for mental health issues  $25 million to expand the pipeline of nurses through the Illinois Community College Board  Support for Small Businesses and Employers One-year waiver of retail liquor license fees to aid restaurants, bars, and liquor license holders $38 million to Employer Training and Investment Program to assist with workforce and employee training efforts $5 million to develop minority entrepreneurship programs and support small, minority owned businesses $35 million in new capital appropriations to Rebuild Main Streets and Downtown Commercial Corridors to promote new investment and bring jobs to communities Public Safety & Violence Prevention Over $800 million for violence prevention appropriations, which will more than triple State violence prevention funding since FY19.  Includes appropriations for Reimagine Public Safety and R3 grants  300 new state troopers, the single largest investment in state history to expand cadet classes  $50 million increase directly from cannabis revenues to support communities harmed by violence, excessive incarceration and economic disinvestment  $20 million to support Gang Crime Witness Protection Program  $20 million for non-profits for security investments to prepare for hate crimes  $5.4 million for increased staffing and equipment at new forensic lab in Decatur, after expanding state forensic capacity in Chicago and Joliet  Protecting the Most Vulnerable  $2 billion for services for people with developmental disabilities, including implementation of 2nd phase of Guidehouse recommendations   $250 million to hire additional DCFS staff, increase rates for private partners and create new residential capacity  The Governor looks forward to continuing to work with the General Assembly to build on Illinois' improving fiscal trajectory.  Click here to review the Budget in Brief and the complete FY23 Budget Book.   This press release was produced by the Elgin Area Chamber of Commerce. The views expressed here are the author's own.