House Republican Budget Plan – No Tax Increases, No Pension Shift

During a press conference today, the House Republican Caucus presented its budget plan that maintains state services and rejects both tax increases and a shift of teacher pensions to counties.  From the press release:

The Republican budget proposal comes just days after a Doomsday proposal was presented in the House that threatens major cuts to programs and lay-offs of state employees if the General Assembly rejects taxes.  The Republican proposal illustrates that with fiscal discipline, tax hikes are not necessary.

To balance the FY 2013 budget, the proposal makes $517 million in reductions to the following programs:

Level Fund K-12 Education in Lieu of Retirement Shift – $174.2
Level Fund Other Aid to Local Governments – $56.5
Level Fund Higher Education – $31.6
Other Level Funding Actions – $2.4
Subtract number of drop-outs from enrollment counts – $33.8
Other Administration/DLS Proposed Reductions – $180.6
Discontinue Stem Cell Research Grants – $10.4
Eliminate Sustainable Communities Tax Credit – $7.0
Biotechnology Tax Credits – $8.0
Reduce Agency Operating Expenses by 2% – $12.5

Click here for the House Republican Caucus 2013 Budget Plan.

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