Illinois residents may be aware of the state’s budget deficit and the severe under funding of its public pension systems. But a new report identifies a so-called “third deficit” that its author says also needs attention.
The analysis from the University of Illinois’ Institute of Government and Public affairs found that the state would need a minimum of about four billion dollars in new annual revenue to spend on infrastructure over the next decade.
Martin Luby wrote the report. He says Illinois' other budget problems have overshadowed the need for capital investments which help bolster the state’s economy.
“Infrastructure has to be at the table it needs to be considered and that’s one thing that’s probably not been the case because it’s easy to ignore when you have these more near term financial crises that you have to deal with.”
Illinois has been operating without a major capital construction plan for more than a year.
