Gov. Rauner: Illinois business climate will benefit from balanced budget, no new taxes

Statement

At the Illinois Chamber of Commerce (ICC) Annual Luncheon today, Gov. Bruce Rauner reiterated his call for the legislature to pass a balanced budget without new taxes. He said that restoring the fiscal integrity is a critical first step in revitalizing the state's economy and delivering more jobs.

"I've asked the four legislative leaders to meet with me to agree that we need a full year plan that is based on certified revenue projections and a pledge to spend within our means," Rauner said. "If we can pair a balanced budget with tax relief, a new era of business, job and personal income growth is sure to begin."

In February, the governor presented a balanced, 12-month budget plan to the legislature. His plan halts deficit spending and puts the state on path to fiscal accountability and tax reductions in the years ahead. He also told Chamber members that passing a comprehensive pension reform package could produce up to a $1 billion tax roll back in FY19.

Rauner said that the goal of his economic development measures is to entice business investment and attract growth companies to Illinois. He said economic growth was the only way to reverse the outmigration of people and businesses from the state. Illinois was the only state in the Midwest to suffer population declines last year.

Illinois Chamber of Commerce President Todd Maisch echoed the need for a fiscally healthier climate in the state.

"Our members want to keep and grow their businesses in Illinois, but this legislative session they need to see that Illinois is heading down a better fiscal track," IL Chamber President Todd Maisch said. "Unbalanced budgets create uncertainty, which drives away valuable long-term business investment and job opportunities. Sound tax and fiscal policy resulting from this session would do wonders for the Illinois business community."

The governor also thanked the ICC for its role in honoring the state's milestone 200th year. The Illinois Chamber Foundation intakes and disburses Bicentennial funds and provides administrative support for related functions.

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