I support a multi-pronged approach to fiscal solvency for the state of Illinois. We need to balance the budget, cut wasteful spending, and reduce excessive regulations, taxes and fees that make starting and running a business difficult in Illinois.
We should switch to defined-contribution 401(k) plans for all new state employees, which will guarantee that those 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 GDP. We should cap state spending at a fixed percentage of GDP, so that officials can't continue to raise taxes and spend endlessly.
Beginning 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 and personal property infractions as sources of revenue, and provide state services at a fair-market value. This plan will include measures to encourage economic opportunity and competition within Illinois, and also the elimination of utility monopolies in localized areas. With utility competition, Illinois residents will stop being nickle-and-dimed by businesses that provide utility essentials (water, electric, heat), because they will no longer be the only game in town. Utilities should also be free to innovate to provide key services at a lower cost.