State Finances

I support a multi-pronged approach to fiscal solvency for the state of Illinois. We need to balance the budget and cut wasteful spending. I also support reducing excessive regulations as well as taxes and fees that make starting and running a business difficult in Illinois.

We should switch to a defined-contribution 401(k) plan for all new state employees which will guarantee that pensions will be fully-funded. In addition, within my first 100 days in office, a plan for fully funding the state employee pension funds will be drafted and presented to the state legislature for inclusion in the state budget legislation.

From 2000 to 2015, government spending in Illinois increased twice as fast as Gross Domestic Product (GDP). We should cap state spending at a fixed percentage of GDP in order to curb legislators from raising taxes and spending recklessly.

On my first day in office, I will work with my staff to draft an “Illinois Roadmap to State Financial Independence.” This roadmap will reduce or eliminate dependence on federal funding, eliminate reliance on monies collected through traffic citations, personal property infractions as sources of revenue, and provide state services at a fair-market value. This plan will also include measures to encourage economic opportunity and competition within Illinois as well as the elimination of utility monopolies in localized areas. With utility competition, Illinois residents will have the benefit of choice and therefore are afforded the opportunity to lower costs due to competitive pricing.