The Problem Illinois state spending has increased significantly over the past decade, increasing 26 percent after inflation from 2000 to 2009.
This measurement includes general, highway, special state, bond financed, debt service, federal trust, revolving funds, and state trust funds.
While spending has soared, Illinois’s population growth has been minimal, increasing 6.3 percent between 2000 and 2009.
Meanwhile, per-capita spending has skyrocketed. In 2000, state spending per resident was $3,983 (inflation adjusted). Ten years later, state spending per resident was $4,730.
In 2009, the state spent an average of $12,440 per household, while the median household income in Illinois was $56,230.
Illinois state spending has been increasing at an unaffordable, unsustainable rate. Our Solution Pass the Pension Funding & Fairness Act, which would limit the growth in future state spending to the rate of population growth plus inflation. Revenues collected beyond this spending growth index would be applied to pay down past due debt, establish a budget stabilization fund, and to fill a taxpayer relief fund.
Why This Works A sensible expenditure limit would ensure that state spending doesn’t grow beyond taxpayers’ ability to pay for it while protecting core programs.
By embracing the Pension Funding & Fairness Act, Illinois will be able to control spending excesses, budget responsibly, and fully fund the annual required pension payment. Overall, this plan will help the government honor its commitments while also honoring its responsibility to the taxpayers—all while launching a new period of growth and government accountability in Illinois.