Madigan says budget requires blend of new revenue, spending
SPRINGFIELD, Ill. -- The longtime leader of the Illinois House says the state's budget has to be balanced with spending cuts and new streams of revenue.
Democratic House Speaker Michael Madigan spoke to reporters Wednesday following Gov. Bruce Rauner's first budget address. Rauner proposed deep cuts to Medicaid, pensions and other programs to fix the state's budget mess without raising taxes.
Madigan says he supports imposing a three percent surcharge on all income earned over $1 million to fund education. The idea failed to pass the Legislature last year.
Madigan also says Rauner's proposal to overhaul the state's pension system could be considered "reckless." Rauner wants to move workers to a less-generous pension plan lawmakers approved in 2010 for new hires.
The state faces a roughly $6 billion budget gap next year.