Governor Quinn to unveil state's 2014 budget

By WEEK Reporter

March 5, 2013 Updated Mar 5, 2013 at 11:14 PM CDT

SPRINGFIELD, Ill. -- Governor Pat Quinn is set to unveil his plan for the state's 2014 budget on Wednesday, and he is already warning that cuts are coming due to the state's growing pension liability.

Tuesday night, Quinn will give a brief overview of what his budget address will cover.

Quinn has already said he does not plan on raising taxes or fees, but he also won't be unveiling any new programs.

He is also expected to discuss how the state's $96 billion in unfunded pensions is squeezing other areas of funding, especially since no action was taken to reform pensions last year.

Local lawmakers agree that pensions are the biggest obstacle the state faces.

"Our budget will be $2 billion worse this year because we didn't address pension reform last year. So I'm sure there are a number of issues that he'll bring forward and I look forward to seeing them," State Representative David Leitch said.

"We need to do some refinancing, we need to make sure that we take the excesses out of the system at the top level and not the folks at the bottom level because there are a lot of cases where you have teachers that not only don't have social security, but they don't have any medicare as well and people don't know that," State Senator Dave Koehler said.

Adding to the pressure, the Illinois House passed a spending cap.

Earlier Tuesday, the House passed a $35.1 billion dollar budget for the next fiscal year, which is up almost $1.5 billion from the current year.

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