SPRINGFIELD, Ill. (KMOX/IRN) – Illinois state lawmakers now have an idea of how much money they can spend next fiscal year, and it’s less than Governor Pat Quinn predicted.
The House Revenue and Finance Committee determined Thursday morning that the state will take in roughly $33.2 billion, which is about $2 billion less than the governor’s office estimated.
The committee was required to develop the estimate due to the state’s new “Budgeting for Results” initiative, which mandates the state figure out how much money will come in before allocating its resources.
State Rep. John Bradley (D-Marion), the committee chairman, says the estimate takes into account only concrete revenue figures.
“The state has gotten in trouble by overestimating revenue,” he says. “I think it’s important, working together in a bipartisan way, that we were able to come up with a number that both sides are comfortable with.”
Bradley could not say who or what services might be affected by the finding.
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