1
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AGAINST.

2
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>> PARIS, THANK YOU.

3
00:00:06,000 --> 00:00:12,866
>> AND TO CAROL MARIN AND A

4
00:00:07,433 --> 00:00:13,266
CLOSER LOOK AT ONE GROUP'S IDEAS

5
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TO TAX ILLINOIS TROUBLED FISCAL

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STATE.

7
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CAROL?

8
00:00:14,400 --> 00:00:19,833
>> PHIL, THANK YOU.

9
00:00:15,766 --> 00:00:22,333
>> $8 BILLION IN NEW REVENUE

10
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THAT IS PART OF THE SOBERING AND

11
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VERY SERIOUS PRESCRIPTION FOR

12
00:00:22,333 --> 00:00:27,066
ILLINOIS' FISCAL TROUBLES.

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IT'S OUTLINED IN A REPORT BY

14
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SOME OF ILLINOIS' PREMIER

15
00:00:27,066 --> 00:00:34,233
BUSINESS LEADERS A GROUP KNOWN

16
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FOR FISCAL CONSERVATISM.

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WE WILL HEAR FROM LESLIE MUNGER.

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FIRST WITH THE DETAILS OF THE

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REPORT FROM THE CIVIC COMMITTEE

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OF THE COMMERCIAL CLUB OF

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CHICAGO WE ARE JOINED BY AMANDA

22
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VINICKY.

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AMANDA, A QUICK REMINDER WHAT IS

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THE CIVIC COMMITTEE AND THE

25
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THRUST OF THIS REPORT?

26
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>> THESE ARE PREMIER BUSINESS

27
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LEADERS, BIGWIG HONCHOS AND THE

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REPORT GOES BACK TO 2014.

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BACK THEN PAT QUINN WAS GOVERNOR

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AND ILLINOIS HAD A BUDGET AN

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INCOMPLETE ONE AND THE TAX RATE

32
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WAS HIGHER IN THIS CLIMATE THAT

33
00:01:04,766 --> 00:01:09,700
THE CIVIC COMMITTEE SAID IT

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SURVEYED MEMBERS AND FOUND THEY

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WERE CONCERNED ABOUT ILLINOIS'

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FISCAL FUTURE.

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BUSINESS LEADERS WORRIED ABOUT

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THE UNCERTAINTY THAT YEARS OF

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POOR PLANNING WERE MAKING

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ILLINOIS INHOSPITABLE.

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>> LITTLE COULD THEY HAVE KNOWN

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HOW UNCERTAIN THINGS WOULD GET.

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TWO-AND-A-HALF YEARS LATER

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WITHOUT A BUDGET IT'S THE

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ULTIMATE IN UNCERTAINTY.

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THAT IS THE BACKDROP FOR THIS

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REPORT.

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>> SO THE REPORT IS GETTING

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ATTENTION BECAUSE THESE BUSINESS

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LEADERS ARE NOT WHAT WE CALL THE

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POSTER BOYS AND POSTER GIRLS OF

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LIBERALISM OR GOVERNMENT

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SPENDING OR TAX INCREASES.

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SO IF ILLINOIS NEEDS TO RAISE AT

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LEAST $8 BILLION A YEAR IN

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REVENUE, WHERE IS IT COMING

57
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FROM?

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>> MOST OF THAT IS GOING TO BE

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IN TAX INCREASES.

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RIGHT NOW ILLINOIS' PERSONAL

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INCOME TAX IS 3.75% AND THE

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REPORT CALLS FOR BRINGING THE

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PERSONAL INCOME TAX RATE BACKUP

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TO 5%.

65
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THE BUSINESS LEADERS RECOMMEND

66
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RAISING THE CORPORATE RATE TO

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PLUS ADDING A SALES TAX TO

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SERVICES AND RETIREMENT TAX AND

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GETTING RID OF CREDITS AND THAT

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COULD BRING IN $9.7 BILLION.

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>> SO AT THE SAME TIME THESE

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EXECUTIVES ARE ARGUING THERE

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HAVE TO BE CUTS AND THEY ARE

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TALKING ABOUT $2 BILLION IN CUTS

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AND CONTRAST TO $8 BILLION IN

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TAX REVENUE WHERE IS ILLINOIS

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GOING TO SCALE DOWN?

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>> $2 BILLION AND THAT IS AT

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MOST FROM WRA THEY GATHER FROM

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TALKING TO BUDGET EXPERTS AND

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THEY HAVE SOME IDEAS THERE

82
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HOWEVER THAT COULD BE EASING UP

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ON GOVERNMENT PURCHASING RULES

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AND HAVING STATE EMPLOYEES PICK

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UP MORE OF A TAB FOR HEALTH

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INSURANCE AND RIDDING THE

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SUBSIDIES FOR EMPLOYERS

88
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HEALTHCARE, AND CUTS TO MEDICAID

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AND ALSO THIS REPORT TALKS ABOUT

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PENSIONS AND THOSE ARE MIRRORING

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THE RECOMMENDATIONS FOR WHAT

92
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GOVERNOR BRUCE RAUNER HAS BEEN

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CALLING FOR.

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BUT THIS IS A BIG BUT AND IN

95
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CONTRAST TO THE GOVERNOR'S

96
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BUDGET PROPOSAL, THE REPORT SAYS

97
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THAT ILLINOIS CANNOT BANK ON

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MANY OF THE SAVINGS PENSIONS

99
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RIGHT NOW.

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BECAUSE PENSIONS ARE SURELY

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GOING TO BE SUBJECT TO A

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LAWSUIT.

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>> AND CONSTITUTIONAL QUESTIONS

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HAVE LOOMED ON THOSE ALREADY.

105
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SO THE CIVIC COMMITTEE IN

106
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ADDITION TO ALL OF THIS, IS

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CALLING FOR THE STATE TO SPEND

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SOME MORE MONEY?

109
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>> RIGHT.

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IT'S MOSTLY AGAIN, THE REVENUE

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INCREASES AND THEY TALK ABOUT

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SCALING BACK AND THEN THEY WANT

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TO SPEND MORE AND SOME OF THOSE

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RECOMMENDATIONS INCLUDE ON THE

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REVENUE SIDE PART OF THAT WOULD

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BE TAKING A HIT.

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IT WOULD BE ADDING NEW TAX

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CREDITS AS THEY GET OF SOME AND

119
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THAT IS GIVING BIGGER TAX

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CREDITS TO LOW INCOME EARNERS

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AND TEACHERS WHO BUY SUPPLIES

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THEY WOULD GET A TAX CREDIT AND

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REDUCING THE FEE FOR LIMITED

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LIABILITY CORPORATIONS.

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AND LIKELY TO ADVANTAGE THE

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WEALTHY, ELIMINATING THE ESTATE

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TAX.

128
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THOSE, HOWEVER AMOUNT TO A SMALL

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CIVIC COMMITTEE SAYS THERE IS NO

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WAY ILLINOIS CAN REDUCE SPENDING

131
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ON EDUCATION.

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RATHER IT CALLS FOR PUMPING MORE

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MONEY INTO SCHOOLS.

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AND THE REPORT DOES NOT GET INTO

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THIS BUT IT SAYS THAT ILLINOIS

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IS GOING TO NEED TO PUT BIG

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MONEY INTO INFRASTRUCTURE

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REPAIRS.

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>> WHERE DOES THIS FIT IN WITH

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THE NEGOTIATIONS IN SPRINGFIELD?

141
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TIME IS RUNNING OUT.

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MAY 31 IS THE END OF THE

143
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LEGISLATIVE SESSION?

144
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SO?

145
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>> SO PROBABLY LATE FOR

146
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POLITICIANS TO COMMON TEMPLATE

147
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THIS --

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CONTEMPLATE THIS REPORT I WILL

149
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BE IN SPRINGFIELD TO REPORT ON

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THE LATEST BUT SOME DOES MATCH

151
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WHAT IS BEING TALKED ABOUT IN

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THE GRAND BARGAIN.

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THEY ARE FOCUSED ON CHANGING HOW

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THE STATE FUNDS SCHOOLS AND HOW

155
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IS UP FOR DISCUSSION.

156
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AND BOTH CONTEMPLATE THE PENSION

157
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CHANGES, PROCUREMENT RULES AND

158
00:05:00,266 --> 00:05:06,700
MAKING IT EASIER FOR

159
00:05:02,133 --> 00:05:07,066
MUNICIPALITIES TO CONSOLIDATE

160
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AND EXPAND THE SALES TAX ON

161
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SERVICES.

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00:05:07,066 --> 00:05:15,533
THE GRAND BARGAIN EXPECTS TO

163
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RAISE REVENUE BUT ADDING SIX

164
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CASINOS AND LEGISLATORS ARE NOT

165
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CONTEMPLATING A RETIREMENT TAX.

166
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THE REPORT SAYS THE

167
00:05:18,400 --> 00:05:26,266
RECOMMENDATIONS ARE INTENDED TO

168
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MAKE ILLINOIS' TAX CLIMATE MORE

169
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ATTRACTIVE TO AVOID MAKING IT

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LESS ATTRACTIVE.

171
00:05:27,266 --> 00:05:34,166
THE RETIREMENT TAX FITS THAT

172
00:05:29,700 --> 00:05:37,266
MOLD BECAUSE ALL STATES TAX

173
00:05:32,800 --> 00:05:39,066
RETIREMENT INCOME AND GOVERNOR

174
00:05:34,166 --> 00:05:40,866
BRUCE RAUNER NIXED THAT IDEA.

175
00:05:37,266 --> 00:05:41,800
>> WHERE DOES THE REPORT FIT IN

176
00:05:39,066 --> 00:05:43,866
WITH THE GOVERNOR'S TURN AROUND

177
00:05:40,866 --> 00:05:45,000
AGENDA?

178
00:05:41,800 --> 00:05:46,633
>> AGAIN, YOU SEE A LOT OF THIS

179
00:05:43,866 --> 00:05:48,500
MIRRORING AND MATCHING WHAT THE

180
00:05:45,000 --> 00:05:50,800
GOVERNOR CALLED FOR WHEN IT

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COMES TO WORKERS COMPENSATION

182
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AND PENSIONS.

183
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GOVERNMENT CONSOLIDATION RED

184
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TAPE BUT RAUNER SAID HE WILL

185
00:05:54,366 --> 00:06:00,866
ONLY AGREE TO A TAX INCREASE IF

186
00:05:56,966 --> 00:06:01,533
ILLINOIS GETS STRUCTURAL REFORMS

187
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AND TERM LIMITS, THIS REPORT

188
00:06:00,866 --> 00:06:07,766
SEPARATES THEM.

189
00:06:01,533 --> 00:06:09,933
IT VERY CLEARLY SAYS A BUDGET IS

190
00:06:04,700 --> 00:06:10,333
THE PRIORITY AND A BUDGET WITH A

191
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WHOLE LOT $8 BILLION OF NEW

192
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REVENUE.

193
00:06:10,333 --> 00:06:15,533
>> AMANDA VINICKY THANK YOU.

194
00:06:11,300 --> 00:06:17,233
YOU CAN FIND A LINK TO THE CIVIC

195
00:06:14,000 --> 00:06:18,300
COMMITTEE'S REPORT ON OUR

196
00:06:15,533 --> 00:06:20,366
WEBSITE.

197
00:06:17,233 --> 00:06:22,100
>> REPRESENTATIVES OF THE CIVIC

198
00:06:18,300 --> 00:06:24,233
COMMITTEE AGREED TO JOIN US THIS

199
00:06:20,366 --> 00:06:25,900
EVENING BUT BACKED OUT WHEN WE

200
00:06:22,100 --> 00:06:29,066
TOLD THEM WE WOULD BE JOINED BY

201
00:06:24,233 --> 00:06:31,433
OUR NEXT GUEST THAT GUEST IS

202
00:06:25,900 --> 00:06:31,766
LESLIE MUNGER, ONE OF THE

203
00:06:29,066 --> 00:06:32,900
ILLINOIS' DEPUTY GOVERNORS.

204
00:06:31,433 --> 00:06:35,566
WELCOME.

205
00:06:31,766 --> 00:06:37,266
>> THANK YOU FOR HAVING ME.

206
00:06:32,900 --> 00:06:38,633
>> YOU'VE HEARD AMANDA'S

207
00:06:35,566 --> 00:06:41,666
RENDERING AND READ THE CIVIC

208
00:06:37,266 --> 00:06:43,733
COMMITTEE'S REPORT.

209
00:06:38,633 --> 00:06:45,033
THEY ARE SAYING BUDGET, BUDGET,

210
00:06:41,666 --> 00:06:46,000
BUDGET, TURN AROUND AGENDA

211
00:06:43,733 --> 00:06:47,833
CANNOT BE FIRST IN LINE OR

212
00:06:45,033 --> 00:06:48,566
SECOND IN LINE.

213
00:06:46,000 --> 00:06:50,666
THE BUDGET IS FIRST, SECOND AND

214
00:06:47,833 --> 00:06:52,266
THIRD IN LINE.

215
00:06:48,566 --> 00:06:53,666
IS IT TIME TO TAKE THE TURN

216
00:06:50,666 --> 00:06:55,200
AROUND AGENDA AND LEAVE IT FOR

217
00:06:52,266 --> 00:06:56,700
ANOTHER DAY?

218
00:06:53,666 --> 00:06:57,633
>> I THINK EVERYONE WOULD AGREE

219
00:06:55,200 --> 00:06:58,900
THAT WE NEED TO GET A BUDGET IN

220
00:06:56,700 --> 00:07:01,166
THE STATE.

221
00:06:57,633 --> 00:07:01,500
BUT I THINK IT'S IMPORTANT TO

222
00:06:58,900 --> 00:07:02,933
REMEMBER IT HAS TO BE THE RIGHT

223
00:07:01,166 --> 00:07:04,633
BUDGET.

224
00:07:01,500 --> 00:07:06,700
A BUDGET THAT IS BALANCED AND A

225
00:07:02,933 --> 00:07:08,800
BUDGET THAT WILL PUT US ON A

226
00:07:04,633 --> 00:07:11,233
TRACK FOR THE STATE FOR A STRONG

227
00:07:06,700 --> 00:07:14,900
FISCAL FUTURE.

228
00:07:08,800 --> 00:07:17,033
WE HAVE FOR MANY YEARS IN THE

229
00:07:11,233 --> 00:07:20,133
STATE OPTED FOR SHORT-TERM,

230
00:07:14,900 --> 00:07:22,333
REVENUE, TAX ONLY OPTIONS THAT

231
00:07:17,033 --> 00:07:24,633
IN A FEW YEARS LEAVE US WITH A

232
00:07:20,133 --> 00:07:28,433
LOWER TAX BASE, AND MAKE IT

233
00:07:22,333 --> 00:07:30,100
HARDER FOR US TO GENERATE THE

234
00:07:24,633 --> 00:07:30,400
REVENUES AND DO NOT ADDRESS THE

235
00:07:28,433 --> 00:07:32,700
DRIVERS FOR THE PROBLEMS WE

236
00:07:30,100 --> 00:07:34,600
HAVE.

237
00:07:30,400 --> 00:07:36,666
THE GOVERNOR HAS BEEN WORKING

238
00:07:32,700 --> 00:07:39,500
WITH MEMBERS OF THE SENATE AND A

239
00:07:34,600 --> 00:07:41,266
LOT OF THINGS IN THE REPORT THAT

240
00:07:36,666 --> 00:07:43,600
DO MIRROR AND I THINK THINGS

241
00:07:39,500 --> 00:07:44,833
LIKE WORKERS COMP AND THE

242
00:07:41,266 --> 00:07:46,533
CHANGES TO MAKE THE BUSINESS

243
00:07:43,600 --> 00:07:48,033
CLIMATE MORE COMPETITIVE.

244
00:07:44,833 --> 00:07:48,333
THERE ARE A LOT OF GOOD THINGS

245
00:07:46,533 --> 00:07:50,566
THAT THE GOVERNOR WOULD AGREE

246
00:07:48,033 --> 00:07:52,300
WITH.

247
00:07:48,333 --> 00:07:54,233
AND WE HAVE TO CHANGE THE

248
00:07:50,566 --> 00:07:56,666
DRIVERS OF THE SPENDING.

249
00:07:52,300 --> 00:07:58,966
AND HAVING $8 BILLION OF NEW

250
00:07:54,233 --> 00:07:59,366
TAXES ON ILLINOISANS WITH ONLY

251
00:07:56,666 --> 00:08:01,233
$2 BILLION OF SPENDING

252
00:07:58,966 --> 00:08:03,033
REDUCTIONS?

253
00:07:59,366 --> 00:08:03,333
IS NOT A WAY TO GO FORWARD THIS

254
00:08:01,233 --> 00:08:05,033
IS HOW WE HAVE GOTTEN INTO THE

255
00:08:03,033 --> 00:08:06,733
MESS.

256
00:08:03,333 --> 00:08:07,666
>> YOU KNOW THE MEMBERS OF THE

257
00:08:05,033 --> 00:08:09,033
CIVIC COMMITTEE THEY HAVE BEEN

258
00:08:06,733 --> 00:08:12,200
FUNDERS OF THE REPUBLICAN PARTY

259
00:08:07,666 --> 00:08:14,133
FOR DECADES IN ILLINOIS.

260
00:08:09,033 --> 00:08:17,633
THESE ARE SERIOUS FISCALLY

261
00:08:12,200 --> 00:08:19,800
CONSERVATIVE MEN AND WOMEN.

262
00:08:14,133 --> 00:08:21,233
SO WHEN THEY PROPOSE SOMETHING

263
00:08:17,633 --> 00:08:22,300
LIKE THIS IT IS WITH A SOBER

264
00:08:19,800 --> 00:08:23,500
EXAMINATION OF THE BOTTOM LINE,

265
00:08:21,233 --> 00:08:25,166
DON'T YOU THINK?

266
00:08:22,300 --> 00:08:26,866
>> I THINK SO.

267
00:08:23,500 --> 00:08:28,466
BUT ONE THING THEY DID NOT

268
00:08:25,166 --> 00:08:30,033
ADDRESS IN THIS REPORT IS THE

269
00:08:26,866 --> 00:08:32,600
ISSUE OF PROPERTY TAXES.

270
00:08:28,466 --> 00:08:34,333
AND THEY REFERENCED THEY THINK

271
00:08:30,033 --> 00:08:35,700
ILLINOIS IS AN OUTLIER ON THE

272
00:08:32,600 --> 00:08:36,466
LOW-END OF BEING TAXED.

273
00:08:34,333 --> 00:08:38,766
BUT THEY NEVER REFERENCED

274
00:08:35,700 --> 00:08:41,433
PROPERTY TAXES.

275
00:08:36,466 --> 00:08:43,300
WHEN YOU LOOK AT THE COMBINATION

276
00:08:38,766 --> 00:08:46,600
OF PROPERTY TAXES, INCOME TAXES

277
00:08:41,433 --> 00:08:48,233
WHICH ARE ADMITTEDLY A MODEST

278
00:08:43,300 --> 00:08:52,233
LEVEL IN THE STATE WITH THE

279
00:08:46,600 --> 00:08:54,666
ROLLBACK, SALES TAXES WHICH ARE,

280
00:08:48,233 --> 00:08:56,233
I THINK THE FIFTH TO 8TH HIGHEST

281
00:08:52,233 --> 00:08:57,200
DEPENDING WHERE YOU LOOK, AND WE

282
00:08:54,666 --> 00:09:00,066
HAVE THE HIGHEST PROPERTY TAXES

283
00:08:56,233 --> 00:09:02,500
IN THE COUNTRY.

284
00:08:57,200 --> 00:09:04,500
WHEN YOU AGRIGATE THOSE

285
00:09:00,066 --> 00:09:06,366
ILLINOISANS ARE BETWEEN THE

286
00:09:02,500 --> 00:09:06,700
5-9TH HIGHEST TAXED IN THE

287
00:09:04,500 --> 00:09:08,800
COUNTRY WHY WE ARE LOSING

288
00:09:06,366 --> 00:09:10,866
PEOPLE.

289
00:09:06,700 --> 00:09:12,000
IF WE WERE THE LOWEST TAXED WE

290
00:09:08,800 --> 00:09:13,133
WOULD HAVE PEOPLE MOVING IN

291
00:09:10,866 --> 00:09:15,100
INSTEAD OF OUT.

292
00:09:12,000 --> 00:09:18,000
>> PROPERTY TAXES HAVE NOTHING

293
00:09:13,133 --> 00:09:18,366
TO DO WITH THE STATE BUDGET.

294
00:09:15,100 --> 00:09:20,166
PROPERTY TAXES FUND SCHOOL

295
00:09:18,000 --> 00:09:22,200
DISTRICTS.

296
00:09:18,366 --> 00:09:25,633
PROPERTY TAXES DON'T PAY ALL THE

297
00:09:20,166 --> 00:09:28,633
UNPAID BILLS YOU HAD TO GRAPPLE

298
00:09:22,200 --> 00:09:29,633
WITH AS STATE COMPTROLLER.

299
00:09:25,633 --> 00:09:32,000
SO IF PROPERTY TAXES ARE FROZEN,

300
00:09:28,633 --> 00:09:33,600
AND SCHOOL DISTRICTS CANNOT GET

301
00:09:29,633 --> 00:09:35,433
THE MONEY THEY NEED AND HAS

302
00:09:32,000 --> 00:09:36,766
NOTHING TO DO WITH OUR UNPAID

303
00:09:33,600 --> 00:09:37,800
BILLS WHY WOULD THE CIVIC

304
00:09:35,433 --> 00:09:41,033
COMMITTEE REFERENCE THEM

305
00:09:36,766 --> 00:09:41,400
SPECIFICALLY?

306
00:09:37,800 --> 00:09:42,833
>> WELL, BECAUSE IT'S ONE

307
00:09:41,033 --> 00:09:44,466
TAXPAYER.

308
00:09:41,400 --> 00:09:47,033
THE PROPERTY TAXES COME OUT OF

309
00:09:42,833 --> 00:09:48,100
ONE SIDE OF THE POCKET.

310
00:09:44,466 --> 00:09:49,733
AND THE ILLINOIS INCOME TAX IS

311
00:09:47,033 --> 00:09:50,900
ANOTHER ON THE OTHER SIDE AND

312
00:09:48,100 --> 00:09:52,600
WHEN YOU TAX PEOPLE TOO MUCH

313
00:09:49,733 --> 00:09:54,200
THEY HAVE OPTIONS.

314
00:09:50,900 --> 00:09:55,500
THEY MOVE OUT OF STATE.

315
00:09:52,600 --> 00:09:56,733
SO DO BUSINESSES AND THAT IS WHY

316
00:09:54,200 --> 00:09:57,500
WE HAVE SEEN BUSINESSES AND

317
00:09:55,500 --> 00:09:59,733
PEOPLE LEAVING THE STATE ALL

318
00:09:56,733 --> 00:10:02,866
OVER THE PLACE.

319
00:09:57,500 --> 00:10:04,233
AND ACTUALLY THE PROPERTY TAXES

320
00:09:59,733 --> 00:10:05,733
ARE HIGH BECAUSE IT PICKS UP A

321
00:10:02,866 --> 00:10:07,966
PREDOMINANCE OF EDUCATION

322
00:10:04,233 --> 00:10:09,666
EXPENSES THAT THE STATE CANNOT

323
00:10:05,733 --> 00:10:11,466
FUND BECAUSE THE DRIVER OF OUR

324
00:10:07,966 --> 00:10:13,200
EXPENSE PROBLEMS ARE FINANCIAL

325
00:10:09,666 --> 00:10:14,400
PROBLEMS IN THE STATE ARE THE

326
00:10:11,466 --> 00:10:15,433
EVER GROWING COSTS OF OUR

327
00:10:13,200 --> 00:10:17,133
PENSIONS WHICH IS SOMETHING THAT

328
00:10:14,400 --> 00:10:19,766
ARE NOT ADDRESSED.

329
00:10:15,433 --> 00:10:22,033
>> AND THE CIVIC COMMITTEE DOES

330
00:10:17,133 --> 00:10:22,366
ADDRESS THEM IN THE SENSE IT

331
00:10:19,766 --> 00:10:24,800
RAISES THE SAME CONSTITUTIONAL

332
00:10:22,033 --> 00:10:26,000
ISSUES.

333
00:10:22,366 --> 00:10:28,433
BUT THESE ARE PEOPLE, I KEEP

334
00:10:24,800 --> 00:10:32,966
GOING BACK TO WHO THE CIVIC

335
00:10:26,000 --> 00:10:34,900
COMMITTEE IS.

336
00:10:28,433 --> 00:10:36,333
THESE ARE EVERY DUNN AND BRAD

337
00:10:32,966 --> 00:10:38,266
STREET COMPANY THAT WE COULD

338
00:10:34,900 --> 00:10:40,300
NAME AND THEY WANT TO SAVE

339
00:10:36,333 --> 00:10:40,666
ILLINOIS AND THEY HATE TAXES.

340
00:10:38,266 --> 00:10:43,433
AND THEY DON'T LIKE GOVERNMENT

341
00:10:40,300 --> 00:10:45,566
SPENDING.

342
00:10:40,666 --> 00:10:47,866
AND YET, THEY SEEM TO THINK THAT

343
00:10:43,433 --> 00:10:49,533
ONLY SOMETHING THIS RADICAL IS

344
00:10:45,566 --> 00:10:51,066
GOING TO STOP OUR BLEEDING.

345
00:10:47,866 --> 00:10:53,866
ARE THEY WRONG?

346
00:10:49,533 --> 00:10:55,133
>> WELL, I DON'T THINK THEY HAVE

347
00:10:51,066 --> 00:10:55,433
THOUGHT ABOUT THE IMPACT ON THE

348
00:10:53,866 --> 00:10:57,366
INDIVIDUAL TAXPAYER IN THE

349
00:10:55,133 --> 00:10:59,033
STATE.

350
00:10:55,433 --> 00:11:00,266
BECAUSE WHEN YOU LOOK AT THE

351
00:10:57,366 --> 00:11:01,266
TOTAL TAX BURDEN WE ARE

352
00:10:59,033 --> 00:11:03,533
EXTRAORDINARILY HIGH AND WE'VE

353
00:11:00,266 --> 00:11:06,833
SEEN WHAT HAPPENS.

354
00:11:01,266 --> 00:11:10,933
WE HAVE RAISED TAXES AND TOOK

355
00:11:03,533 --> 00:11:12,733
THE RATE UP TO 5% IN 2011.

356
00:11:06,833 --> 00:11:15,233
IT BROUGHT IN $7 BILLION A YEAR,

357
00:11:10,933 --> 00:11:17,300
$32 BILLION IN TOTAL.

358
00:11:12,733 --> 00:11:20,033
WHERE DID THE MONEY GO?

359
00:11:15,233 --> 00:11:21,100
IT DID NOT GO TO PAY DOWN OUR

360
00:11:17,300 --> 00:11:22,700
DEBT OR BILL BACKLOG IT WENT TO

361
00:11:20,033 --> 00:11:24,433
FUND PENSIONS.

362
00:11:21,100 --> 00:11:27,500
THE COST OF PENSIONS IN THE

363
00:11:22,700 --> 00:11:29,700
STATE OF ILLINOIS HAVE GONE FROM

364
00:11:24,433 --> 00:11:31,700
3% OF GENERAL REVENUE IN 2000 TO

365
00:11:27,500 --> 00:11:32,800
25% OF OUR EXPENSE AND IT'S ON A

366
00:11:29,700 --> 00:11:34,433
PATH TO GET TO 28% IN A COUPLE

367
00:11:31,700 --> 00:11:35,666
OF YEARS.

368
00:11:32,800 --> 00:11:39,000
>> WHAT IS GOVERNOR BRUCE

369
00:11:34,433 --> 00:11:41,800
RAUNER'S SOLUTION TO THAT?

370
00:11:35,666 --> 00:11:43,433
>> THE GOVERNOR HAS TALKED VERY

371
00:11:39,000 --> 00:11:44,600
CONSISTENTLY ABOUT THE NEED FOR

372
00:11:41,800 --> 00:11:46,533
A MULTIPRONG APPROACH.

373
00:11:43,433 --> 00:11:47,966
LOOKING AT CONSTITUTIONAL WAYS

374
00:11:44,600 --> 00:11:48,966
TO REFORM PENSIONS ONE OF THE

375
00:11:46,533 --> 00:11:51,000
TOPICS INCLUDED IN THE CIVIC

376
00:11:47,966 --> 00:11:51,266
COMMITTEE REPORT.

377
00:11:48,966 --> 00:11:53,033
BUT THE ECONOMIC GROWTH IS THE

378
00:11:51,000 --> 00:11:54,033
KEY.

379
00:11:51,266 --> 00:11:57,066
BECAUSE TAXES ALONE CANNOT GET

380
00:11:53,033 --> 00:11:59,433
US OUT OF THIS MESS.

381
00:11:54,033 --> 00:12:02,133
I WILL TELL YOU THAT OF THE

382
00:11:57,066 --> 00:12:05,866
STATE'S CURRENT GENERAL REVENUE

383
00:11:59,433 --> 00:12:07,466
PRETTY FLAT FOR THE PAST SEVERAL

384
00:12:02,133 --> 00:12:09,933
YEARS $31 BILLION, 75% OF THAT

385
00:12:05,866 --> 00:12:12,533
IS IN SPENDING THAT IS LOCKED

386
00:12:07,466 --> 00:12:13,466
INTO LAW TO FUND PENSIONS,

387
00:12:09,933 --> 00:12:15,266
MEDICAID, INTEREST ON THE DEBT,

388
00:12:12,533 --> 00:12:16,466
EMPLOYEE GROUP HEALTHCARE.

389
00:12:13,466 --> 00:12:18,566
THIS IS SOMETHING THE

390
00:12:15,266 --> 00:12:20,200
LEGISLATURE CAN ADDRESS BY

391
00:12:16,466 --> 00:12:21,700
LOOKING AT THE LAWS AND CHANGING

392
00:12:18,566 --> 00:12:22,633
WHAT THEY HAVE PROTECTED

393
00:12:20,200 --> 00:12:24,500
LEGISLATIVELY TO HELP REDUCE

394
00:12:21,700 --> 00:12:26,866
COSTS THERE.

395
00:12:22,633 --> 00:12:28,666
THAT WOULD FREE UP FUNDING TO GO

396
00:12:24,500 --> 00:12:29,033
TO FUND EDUCATION, HUMAN

397
00:12:26,866 --> 00:12:30,500
SERVICES, PUBLIC SAFETY ET

398
00:12:28,666 --> 00:12:32,166
CETERA.

399
00:12:29,033 --> 00:12:34,600
>> BUT AS THE GOVERNOR TALKS

400
00:12:30,500 --> 00:12:37,100
ABOUT IMPROVING THE BUSINESS

401
00:12:32,166 --> 00:12:38,900
CLIMATE WITH WORKERS COMP AND

402
00:12:34,600 --> 00:12:41,300
TERM LIMITS HE THINKS WILL

403
00:12:37,100 --> 00:12:41,633
STIMULATE THINGS THOSE ARE NOT

404
00:12:38,900 --> 00:12:43,500
IMMEDIATE REVENUE PRODUCING

405
00:12:41,300 --> 00:12:45,766
MOMENTS.

406
00:12:41,633 --> 00:12:48,300
AND WHAT THE CIVIC COMMITTEE AT

407
00:12:43,500 --> 00:12:52,100
LEAST FROM MY READING OF IT

408
00:12:45,766 --> 00:12:54,866
SEEMS SO SAY THERE NEEDS TO BE

409
00:12:48,300 --> 00:12:57,366
INDUSTRIAGE IN THE STATE --

410
00:12:52,100 --> 00:12:59,100
TRIAGE, REVENUE TRIAGE AND IT

411
00:12:54,866 --> 00:13:00,833
NEEDS TO HAPPEN NOW.

412
00:12:57,366 --> 00:13:02,266
THE LEGISLATURE AND THE GOVERNOR

413
00:12:59,100 --> 00:13:02,566
EVERYONE CARRIES THE BURDEN.

414
00:13:00,833 --> 00:13:04,700
>> WE NEED REVENUE INTO THE

415
00:13:02,266 --> 00:13:06,400
STATE.

416
00:13:02,566 --> 00:13:08,166
BUT YOU CAN GET REVENUE FROM

417
00:13:04,700 --> 00:13:10,266
TAXING AND THEIR REPORT PRODUCES

418
00:13:06,400 --> 00:13:11,566
IT ALL FROM TAX INCREASES.

419
00:13:08,166 --> 00:13:12,300
OR YOU CAN GET IT FROM A

420
00:13:10,266 --> 00:13:14,733
COMBINATION OF TAXING AND A

421
00:13:11,566 --> 00:13:18,300
GROWING ECONOMY.

422
00:13:12,300 --> 00:13:19,933
I VISITED A COMPANY JUST LAST

423
00:13:14,733 --> 00:13:21,433
FRIDAY WHO IS LOOKING AT

424
00:13:18,300 --> 00:13:22,833
EXPANDING THEY ARE A $100

425
00:13:19,933 --> 00:13:24,400
MILLION COMPANY AND THEY HAVE

426
00:13:21,433 --> 00:13:25,966
OPTIONS IN ILLINOIS AND INDIANA

427
00:13:22,833 --> 00:13:27,733
AND THEY ARE NOT FAR FROM THE

428
00:13:24,400 --> 00:13:30,166
INDIANA BORDER AND THE COST

429
00:13:25,966 --> 00:13:31,700
DIFFERENCE TO THEM FOR PROPERTY

430
00:13:27,733 --> 00:13:33,333
TAXES AND WORKER COMP IS

431
00:13:30,166 --> 00:13:34,666
$600,000 TO STAY IN ILLINOIS.

432
00:13:31,700 --> 00:13:37,066
THAT IS HUGE.

433
00:13:33,333 --> 00:13:40,433
SO WHY IS THAT IMPORTANT?

434
00:13:34,666 --> 00:13:42,366
BECAUSE WE NEED TO MAINTAIN OUR

435
00:13:37,066 --> 00:13:44,666
TAX BASE AND NOT SHRINK IT AND

436
00:13:40,433 --> 00:13:46,566
WE WILL SHRINK OUR TAX BASE.

437
00:13:42,366 --> 00:13:47,966
>> AND THE PEOPLE WHO MAKEUP THE

438
00:13:44,666 --> 00:13:49,066
CIVIC COMMITTEE ARE PEOPLE WITH

439
00:13:46,566 --> 00:13:52,033
ENORMOUS BUSINESSES WHO ARE

440
00:13:47,966 --> 00:13:55,666
STAYING IN ILLINOIS.

441
00:13:49,066 --> 00:13:56,800
THEY ARE NOT MOVING THE

442
00:13:52,033 --> 00:13:58,733
MERCANTILE EXCHANGE AND NOT

443
00:13:55,666 --> 00:14:00,133
MOVING MAJOR BANKS.

444
00:13:56,800 --> 00:14:01,900
THEY ARE HERE AND THEY ARGUE

445
00:13:58,733 --> 00:14:03,900
THERE ARE OFFSETS IN ILLINOIS

446
00:14:00,133 --> 00:14:04,500
THAT YOU ARE NOT GOING TO BE

447
00:14:01,900 --> 00:14:07,433
ABLE TO GET IF YOU MOVE TO

448
00:14:03,900 --> 00:14:09,600
ANOTHER STATE.

449
00:14:04,500 --> 00:14:09,933
RIGHT NOW, DO YOU THINK WE ARE

450
00:14:07,433 --> 00:14:10,800
GOING TO HAVE A BUDGET BY MAY

451
00:14:09,600 --> 00:14:12,466
31?

452
00:14:09,933 --> 00:14:14,166
>> I HOPE SO.

453
00:14:10,800 --> 00:14:16,133
WE NEED A BUDGET.

454
00:14:12,466 --> 00:14:16,500
IT'S THE MOST IMPORTANT THING WE

455
00:14:14,166 --> 00:14:18,033
CAN DO BECAUSE WE NEED

456
00:14:16,133 --> 00:14:20,200
CERTAINTY.

457
00:14:16,500 --> 00:14:22,833
WE NEED TO LET OUR ORGANIZATIONS

458
00:14:18,033 --> 00:14:24,233
AROUND THE STATE THAT RELY ON

459
00:14:20,200 --> 00:14:26,133
FUNDING HUMAN SERVICES, SCHOOLS,

460
00:14:22,833 --> 00:14:28,366
HIGHER EDUCATION ET CETERA AND

461
00:14:24,233 --> 00:14:28,700
NEED TO LET OUR BUSINESSES KNOW

462
00:14:26,133 --> 00:14:30,633
WHAT TAX STRUCTURE THEY CAN

463
00:14:28,366 --> 00:14:31,666
EXPECT.

464
00:14:28,700 --> 00:14:33,166
BUT BANKS CANNOT PICK UP AND

465
00:14:30,633 --> 00:14:35,166
MOVE EASILY.

466
00:14:31,666 --> 00:14:36,466
BUT THE BUSINESSES CAN.

467
00:14:33,166 --> 00:14:38,400
SMALL BUSINESSES ARE

468
00:14:35,166 --> 00:14:40,366
MANUFACTURERS AND THEY HAVE.

469
00:14:36,466 --> 00:14:42,733
AND THERE ARE EMPTY STOREFRONTS

470
00:14:38,400 --> 00:14:43,866
ALL OVER COMMUNITIES ALL

471
00:14:40,366 --> 00:14:45,266
SURROUNDING THE PERIMETER OF THE

472
00:14:42,733 --> 00:14:46,833
STATE BECAUSE THEY HAVE CHOSEN

473
00:14:43,866 --> 00:14:50,600
TO MOVE OUT OF STATE.

474
00:14:45,266 --> 00:14:52,066
SO WE CAN CONTINUE DOWN THIS

475
00:14:46,833 --> 00:14:55,400
PATH OF SOLVING THIS ONLY VIA

476
00:14:50,600 --> 00:14:55,766
TAXING OUR BUSINESSES --

477
00:14:52,066 --> 00:14:57,866
>> BUT IF WE DON'T FUND

478
00:14:55,400 --> 00:14:59,300
EDUCATION.

479
00:14:55,766 --> 00:15:00,433
IF WE DON'T HAVE HAVE HIGHER

480
00:14:57,866 --> 00:15:03,066
EDUCATION SUPPORTED AND

481
00:14:59,300 --> 00:15:05,233
SECONDARY AND PRIMARY SUPPORT IN

482
00:15:00,433 --> 00:15:07,233
THIS REPORT, SUGGESTS SPENDING

483
00:15:03,066 --> 00:15:09,700
MORE ON PRIMARY EDUCATION, WE

484
00:15:05,233 --> 00:15:12,133
DON'T HAVE THE ATTRACTIVENESS IN

485
00:15:07,233 --> 00:15:13,333
THE STATE TO KEEP PEOPLE IN IT.

486
00:15:09,700 --> 00:15:15,266
IS THE GOVERNOR WILLING TO LET

487
00:15:12,133 --> 00:15:17,133
CHICAGO PUBLIC SCHOOLS CLOSE

488
00:15:13,333 --> 00:15:18,700
EARLY AT THE END OF THIS YEAR?

489
00:15:15,266 --> 00:15:20,233
>> SO THE GOVERNOR HAS MADE IT

490
00:15:17,133 --> 00:15:21,366
CLEAR THAT EDUCATION FUND

491
00:15:18,700 --> 00:15:22,000
SOMETHING ONE OF HIS PRIORITIES

492
00:15:20,233 --> 00:15:23,933
AND HIGHER EDUCATION IS A PIECE

493
00:15:21,366 --> 00:15:26,166
OF THAT.

494
00:15:22,000 --> 00:15:27,600
BECAUSE WE NEED TO BE ABLE TO

495
00:15:23,933 --> 00:15:29,400
MOVE OUR YOUTH INTO HIGHER ED IN

496
00:15:26,166 --> 00:15:30,033
OUR OWN STATE.

497
00:15:27,600 --> 00:15:31,700
SO WE CAN KEEP THEM IN THE STATE

498
00:15:29,400 --> 00:15:33,966
OF ILLINOIS.

499
00:15:30,033 --> 00:15:34,800
AGAIN, THE DRIVERS OF OUR

500
00:15:31,700 --> 00:15:36,566
PROBLEMS ARE NOT THAT WE DON'T

501
00:15:33,966 --> 00:15:38,900
TAX ENOUGH.

502
00:15:34,800 --> 00:15:41,000
IT IS THAT WE HAVE SPENDING THAT

503
00:15:36,566 --> 00:15:43,333
OUT OF CONTROL AND IF WE DO NOT

504
00:15:38,900 --> 00:15:44,633
TACKLE PENSION REFORM AND THE

505
00:15:41,000 --> 00:15:46,566
DRIVERS, PENSIONS HAVE GONE UP

506
00:15:43,333 --> 00:15:48,733
THEY HAVE DOUBLED.

507
00:15:44,633 --> 00:15:51,933
>> BUT YOU HAVE A CONSTITUTIONAL

508
00:15:46,566 --> 00:15:54,400
PROBLEM ON PENSIONS YOU KNOW

509
00:15:48,733 --> 00:15:56,233
THIS IS COMPTROLLER ALL RED INK

510
00:15:51,933 --> 00:15:58,833
ON THE LEDGER SHEETS.

511
00:15:54,400 --> 00:16:00,333
>> SO I GUESS THE MAIN QUESTION

512
00:15:56,233 --> 00:16:01,966
IS ARE WE GOING TO CONTINUE TO

513
00:15:58,833 --> 00:16:03,466
RAISE TAXES ON THE BUSINESSES

514
00:16:00,333 --> 00:16:06,866
AND PEOPLE TO FUND PUBLIC

515
00:16:01,966 --> 00:16:09,066
EMPLOYEE PENSIONS THAT THE ARE

516
00:16:03,466 --> 00:16:10,433
OUT OF CONTROL AND TAKING UP 25,

517
00:16:06,866 --> 00:16:12,633
ON THEIR WAY TO 28% OF OUR

518
00:16:09,066 --> 00:16:14,400
STATE'S REVENUE?

519
00:16:10,433 --> 00:16:14,933
OR ARE WE GOING TO REFORM THEM.

520
00:16:12,633 --> 00:16:16,900
>> CAN YOU REFORM THEM IN TWO

521
00:16:14,400 --> 00:16:18,666
WEEKS?

522
00:16:14,933 --> 00:16:20,600
>> WELL, THEY CAN PUT IN PLACE

523
00:16:16,900 --> 00:16:21,833
PLANS AND THEN I BELIEVE THE

524
00:16:18,666 --> 00:16:23,700
GOVERNOR HAS SAID THAT A BUDGET

525
00:16:20,600 --> 00:16:25,500
WITH SOME OF THE REFORMS THAT

526
00:16:21,833 --> 00:16:26,400
WILL HELP US GET ON A GOOD TRACK

527
00:16:23,700 --> 00:16:28,200
FOR BUSINESSES IN THE STATE HE

528
00:16:25,500 --> 00:16:29,233
WOULD SIGN.

529
00:16:26,400 --> 00:16:31,066
>> IS HE MEETING WITH THE

530
00:16:28,200 --> 00:16:32,800
LEGISLATIVE LEADERS NOW?

531
00:16:29,233 --> 00:16:33,233
>> I BELIEVE THAT WHY I'M HERE

532
00:16:31,066 --> 00:16:34,600
BECAUSE HE HAS NOT LEFT

533
00:16:32,800 --> 00:16:35,666
SPRINGFIELD.