From AP - News Headlines -

Illinois Dems Closing in on Budget Deal

Democratic leaders in Springfield say they're getting closer to reaching a deal on a state budget.

The state House has already passed a bipartisan spending plan. But it would appropriate $1 billion less than the version approved by Senate Democrats. Now, Senate President John Cullerton, D-Chicago, says he's willing to go along with the House's $32 billion proposal.

"I think we're going to have a very positive experience here. I know we're going to have a balanced budget," Cullerton said Thursday. "Each chamber has passed a balanced budget. So this is just a matter of how much more we can save and pay down of our existing debt."

Cullerton said he's beginning to negotiate with House Speaker Michael Madigan to reconcile their two budget proposals.

Meanwhile, an Illinois Senate committee is advancing a plan to pay down state debt by borrowing $6 billion. Democratic Gov. Pat Quinn has said he wants to borrow more than $8 billion to pay down a backlog of overdue bills. But many Republicans oppose the idea.

Categories: Economics, Government, Politics