Illinois governor's budget aims to end structural deficit

Reuters News
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Posted: Feb 18, 2015 1:22 PM

(Reuters) - Illinois Governor Bruce Rauner proposed a fiscal 2016 budget on Wednesday that he said will eliminate a $6.2 billion structural deficit without relying on higher taxes or borrowing.

The Republican also proposed moving current state workers into a pension plan that offers reduced benefits to save more than $2.2 billion in the coming fiscal year and more than $100 billion over 30 years.

"It will take time to restore Illinois to fiscal health," Rauner said in his budget address to the legislature in Springfield, Illinois.

(Reporting by Karen Pierog in Chicago; editing by Matthew Lewis)