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Friday, April 26, 2024

Tracy cites report that confirms GOP warnings over state budget

Jiltracey

Sen. Jil Tracy | Facebook

Sen. Jil Tracy | Facebook

In a May 31 Facebook post, Sen. Jil Tracy's (R-Quincy) week-in-review post links to a report from a good-government group that says the state's new budget isn't sustainable.

"A warning by Senate Republicans in recent months that Illinois' new budget is careless as it uses one-time COVID-19 revenues to increase long-term state spending is supported in a new report by an organization that promotes responsible government spending," the post said.

The report says that Illinois could be facing a 'fiscal cliff.'

"Fiscal sustainability is especially important in the context of SLFRF (Coronavirus State and Local Fiscal Recovery Funds), because the program provides appropriations that must be obligated (a term indicating a binding agreement for outlays) by December 31, 2024, and spent by December 31, 2026," the Volcker Alliance report said. "States that may be using these funds to finance recurring costs, including California, Illinois, and Pennsylvania, could encounter so-called fiscal cliffs when the federal money is no longer available.

In May, Tracy joined Sen. Dave Syverson (R-Rockford) in calling for an alternative to the gas tax freeze. Syverson then called on the General Assembly and the Pritzker Administration to immediately take action to cap the state's sales tax on motor fuel at 18 cents per gallon, which is more in line with what consumers were paying last fall before prices started to climb dramatically. Syverson says the General Assembly should reconvene for a special session to repeal the Governor's two-cent election-year plan and pass Senate Bill 4195, which he said, "provides substantially more savings and relief to motorists and prevents state government from receiving a windfall of cash it was never expecting."

As of June 1, AAA reported the average price for a gallon of gas is $4.671 nationally and $5.131 in Illinois.

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