SB 750- Education and Fiscal Responsibility Act Provides Additional Revenue to fix state’s structural deficit and includes critical accountable measures while providing more funds for Illinois Schools

Springfield, IL (Thursday, February 8, 2007) – In an effort to address the state of Illinois’ historic education inequities, pension under-funding and revenue shortfalls, Reverend Senator James Meeks (D-15) today will hold a press conference at noon in the Capitol to announce he is reintroducing a revised version of his comprehensive school funding and fiscal reform legislation, Senate Bill 750.  Senator Meeks will be joined at the press conference by a bi-partisan group of legislators, as well as advocacy and reform organizations, including A+ Illinois, Illinois Federation of Teachers, Illinois Education Association, AFSCME, Metropolitan Planning Council, Voices for Illinois Children, the Illinois Coalition of Urban League Affiliates comprised of the Chicago Urban League, Quad County Urban League, Champaign Urban League, Peoria Urban League, Alton Urban League, Springfield Urban League and the Greater St. Louis Urban League, and the Center for Tax and Budget Accountability. 

“With Illinois ranking 49th among the 50 states when it comes to providing its share of school funding, it’s time for us to redirect our priorities and recognize that the only way to close the student achievement gap and alleviate property tax burdens is to enact legislation that calls for sustainable education funding reform,” said Rev. Senator Meeks.  “That legislation is SB 750.  As sponsor of this bill, I will continue to fight for those who cannot fend for themselves, which is our children.  SB 750 will ensure that all schools operate at adequate funding levels and provide the children of Illinois - regardless of income, race, zip code and special needs the opportunity to receive a quality education.” 

“Finally there is a commonsense proposal on the table that fundamentally changes how the state brings in revenue to fund public services,” says Ralph Martire, executive director of the Center for Tax and Budget Accountability.  “The revenue generating solutions proposed in SB 750 are not only feasible and accountable, but they are also good economic policy.  If Illinois is to successfully compete in the modern economy, the state must reform the way it generates revenue so that it responds adequately to economic growth.”

Effectively, SB 750 would:

• Generate $9.5 billion a year in new revenue;
• Provide more than $2.1 million to schools on an annual basis;
• Provide more than $3 billion  toward our pension system (and pay off our pension debt);
• Provide more than $2 billion for property tax relief.

“We are excited to support the concepts in this bill, as they bring us closer to our shared goal of providing a quality education to every child in Illinois,” said Mary Ellen Guest, A+ Illinois campaign manager. “We look forward to working with lawmakers to make 2007 the year we finally get things right for Illinois schools and families.”

“Urban Leagues from all around the state are springing into action and uniting to fight for better funding of our schools and support SB 750. Year after year, we watch the inaction in Springfield and year after year, the illiteracy rates, drop-out rates, the incarceration rates of African American and Hispanic youth skyrocket. There is no more important fight—fighting for the future of our children,” said the Illinois Coalition of Urban League Affiliates.

"Chicago Urban League supports education finance reform,” said Cheryle Jackson, president and CEO of the Chicago Urban League.  “Greater funding for our schools is the foundation for a vital workforce, and a vital workforce helps build the economic development we so sorely need."

The comprehensive approach taken in SB 750 is needed if the state is serious about reforming education funding.  “The bottom line is simple,” Martire said.  “If the state can’t even afford to pay its current bills or fund its pension commitments to workers, it sure as heck can’t enhance education funding by the $2 billion plus needed to reach an adequate level.  No one likes a tax increase, but SB 750 is a reform, not just an increase.  It is accountable, sustainable, keeps Illinois a low tax state and moves our revenue system into the current economy.”

Reverend Senator Meeks added that he is “excited about working with Illinois House Speaker Mike Madigan and Senate President Emil Jones in passing this comprehensive legislation despite threats of a gubernatorial veto.”