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* Comptroller Susana Mendoza spoke to the Paul Simon Public Policy Institute today…
[Mendoza] said her office is able to pay vendors and others within the 30-day timeframe required by law.
“The last time that we were this current on paying our bills was just before Sept. 11, 2001,” Mendoza added.
However, the Democrat from Chicago said she doesn’t believe Illinois will improve its financial standing without restructuring the state’s tax system with a graduated income tax, a plan defeated by voters in 2020.
“There is a structural deficit, which means that in any given year, I’m just trying to meet the core obligations of the state – things like K-12 spending, Medicaid, all of our health care payments, public safety, human resources – all of those basic things – even with all of that, we don’t have enough revenue coming in on a year-to-year basis to cover just the most basic expenses.”
I’ve written several times that Illinois has never really recovered from the 9/11 economic shock. It’s the starting point of our state’s long fiscal decline. It’d sure be nice if that was about to change. I suppose we’ll see.
posted by Rich Miller
Friday, Jun 4, 21 @ 3:44 pm
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