Thomson Reuters Tax & Accounting News

Featuring content from Checkpoint

Back to Thomson Reuters Tax & Accounting News

Subscribe below to the Checkpoint Daily Newsstand Email Newsletter

Illinois Gov. Rauner vetoes budget, citing $4 billion deficit

(Reuters) – Illinois Gov. Bruce Rauner on Thursday vetoed 19 budget bills that he said would create a nearly $4 billion deficit for the financially troubled state.

Rauner, a Republican who has been in an ongoing budget battle with the state’s Democratic majority legislature, said in a statement the veto is to “protect Illinois taxpayers from an unbalanced and therefore unconstitutional budget.”

Rauner on Wednesday signed into law school funding legislation, marking the first fiscal 2016 budget bill passed by Democratic lawmakers to be enacted.

In total, Democrats had passed a $36.3 billion budget for the fiscal year that begins in a week.

Rauner wants lawmakers to adopt his so-called turnaround agenda.

Illinois Senate President John Cullerton said that he would take time to discuss next steps with other legislators.

“It appears that the governor would rather move the state toward a shutdown rather than reasonable compromises that protect the middle class with a balanced approach to budgeting,” said Cullerton, a Democrat, in a statement. (Reporting by Mary Wisniewski; Editing by Lisa Lambert)

Tagged with →