Observations and comments about state government by State Representative Robert W. Pritchard.
According to Illinois Comptroller Judy Baar Topinka, Illinois ended fiscal year 2011 with $8.3 billion in unpaid bills and other obligations, including $850 million owed in corporate tax refunds, $750 million needed to repay interfund borrowing, and $1.2 billion for state employee health insurance. The $8.3 billion of FY2011 bills and obligations will have to be paid by January using FY2012 revenue and thus exacerbating the state’s structural deficit.
Illinois owes primary and secondary school districts $1.13 billion and public universities $584 million, according to the Comptroller. So what happened to the 67 percent increase in the personal income tax rate and 46 percent hike in the corporate tax rate enacted by the legislature? According to Topinka, those funds have been absorbed by Medicaid and public pensions and do not help pay off any bills.
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