Rauner Signs Full-Year Budget For First Time Since Taking Office

SPRINGFIELD, IL — Gov. Bruce Rauner signed a $38.5 billion spending plan into law on Monday for the state government, and Chicago Tribune reports it's the first time a full budget has been approved on time since the Republican leader took office three years ago. Rauner signed the budget during a ceremony in Chicago with both Democratic and Republican lawmakers present.

The budget plan increases funding for early childhood and K-12 education by a combined $407 million and predicts more than $440 million in savings from new pension buyout options.

RELATED: Tax Hike, Budget Approved: Illinois House Overrides Rauner Vetoes

Rauner's approval comes less than a year after his veto on a budget implementation bill a a tax increase bill that would hike personal income taxes from 3.75 to 4.95 percent, both of which the Illinois House voted to override, giving the state its first budget since July 1, 2015.

Today’s bill signing demonstrates that we can put the people of Illinois ahead of all other concerns. So, on their behalf as well, I urge us not to be complacent about the challenges ahead. We've got a lot more work to do. pic.twitter.com/0XjWD77yIh
— Governor Rauner (@GovRauner) June 4, 2018

Just days before Rauner signed the plan into law, he released a statement on Thursday saying in part, "With this budget, we can come as close as any General Assembly and Governor in Illinois have in a very long time. It's a step in the right direction, though it does not include much-needed debt paydown and reforms that would reduce taxes, grow our economy, create jobs and raise family incomes."

(Photo by Scott Olson/Getty Images)