Metro East Sun

Incoming state representative for the 114th District Kevin Schmidt is pushing back on Gov. J.B. Pritzker’s rosy projection of the state’s budget shortfall. 

“The lack of interest in the state’s dire financial situation is expected,” Schmidt told Metro East Sun. “Just look at the way the previous election was covered. Many news outlets ignored the Democrats’ lack of a long-term plan for our financial challenges in statewide elections as well as elections for the statehouse.” 

Pointing out that "just because this story is being ignored does not make it any less important," Schmidt warns about the negative outcomes if financial challenges will not be acknowledged and addressed.

"We are headed to financial insolvency if we continue to ignore the financial realities facing our state,” he said. “The estimated revenues for the current fiscal year are still about $1 billion less than the actual revenue of Fiscal Year 2022. The reality is our state is being propped up on the strength of federal dollars. Once that money goes away, we are back to struggling to find ways to pay our bills again. The smart approach would be to find ways to reduce spending and live within our means.” 

“Illinois still has the worst credit rating of all 50 states," Schmidt said. "The Land of Lincoln continues to be a leader in outmigration" citing major employers like Caterpillar and Boeing leaving the state. 

"We need to stop ignoring the structural problems that have led to job loss," he said. "We should be a destination for jobs and opportunities. Poor policies and bad leadership are hurting our state. We deserve better.”  

Schmidt’s statement came on the heels of the governor's Nov. 14 press release saying that in five years, budget deficits would be "nearly eliminated." Pritzker said his administration managed to have Illinois' bills paid on time. He added that with "over $1 billion in our rainy-day fund, our credit ratings are up and we are honoring our commitments to long-term financial liabilities by contributing extra to Illinois' pension systems." 

Pritzker also applauded his administration for making efforts to work with the General Assembly, remaining "committed to working tirelessly for Illinois taxpayers and responsibly managing the state's finances." The reelected governor also was proud to note that he was able to close "a seemingly insurmountable structural deficit" by highlighting that this was a problem that has been passed on to him by the previous administration.

Opponents to the governor said the improved outlook has more to do with one-time COVID funds from the federal government and higher taxes. 

Writing in Wirepoints, Mark Glennon challenged Pritzker’s perception that Illinoisans should thank his administration for a projection showing Illinois' budget shortfall.

“Here’s the question that’s key: What has Pritzker or the General Assembly done to improve Illinois’ finances, other than tax increases?” Glennon asked in Wirepoints, according to Praire State Wire. “Nothing material. For Pritzker to include the higher estimates in the context of his claim that 'we celebrate the tremendous progress' they have made is unfounded for the simple reason that he has nothing to point to.” 

Another critic said that the projection is based on a budget the state is concealing. "The people continue to be misled by the state's finances,” Sheila Weinberg of Truth in Accounting told The Center Square. "Can [Illinoisans] knowledgeably participate in their government if they are not being told the truth about their finances?" 

“Instead, it’s a budget that gives billions more to a political class that has proven to be the most corrupt in the nation,” a Wirepoints report said of Pritzker’s 2021 budget. “That will only invite more abuse."