Rep. McLaughlin Votes No on Out-of-Touch and Fiscally Irresponsible FY24 Budget

LAKE BARRINGTON… State Representative Martin McLaughlin (R-Barrington Hills) says, “Why is everything costing so much more these days? The simple answer is the Government, both Federal and State, is spending more than they receive in taxes.”

McLaughlin said, “This spending causes our dollars to be worth less and less, which destroys our savings and makes everything we consume cost more. However, do not take my word for it; how about a Nobel Prize winner?

“Milton Friedman said it best: “inflation is always and everywhere a monetary phenomenon. It is made by, or stopped by the central bank.”

“Here are five priorities that I wanted to see addressed in this Budget, but of course none of these ended up within the hyper-partisan budget:

  • Invest in Kids: Economically disadvantaged students will see their scholarships eliminated at the end of the calendar year due to democrats’ inaction on the Invest in Kids tax credit scholarship fund
  • Lower business regulation: To incentivize new businesses and investment in Illinois
  •  Estate Tax: Small farms and businesses will continue to be punished by the state’s overly burdensome estate tax
  • R&D Tax Credit: Communities, which would stand to benefit from major investment from businesses, are clamoring for a larger R&D tax credit, but you will not find it in the Democrats’ budget
  • Developmentally Disabled: The developmentally disabled population and those who have been waiting for years on the PUNS list, because there is a staff shortage due to the abysmal pay these workers receive, will have to wait even longer. Illinois has been the worst state in the nation for helping the developmentally disabled for decades.

“The Majority party also added a 5.5% raise to their salaries and allocated more Democratic capital projects using ARPA funds, including $1.5 billion for operational costs for favored entities and $1 billion in capital projects.

“One bright spot this session was the bipartisan support for behavioral and mental health investment in our state that has been sorely needed and hopefully will have a positive impact in education and public safety.

“I stand ready and willing to collaborate on real, meaningful economic reforms that will help propel our citizens and state out of this fiscal fiasco. It is up to my colleagues on the other side of the aisle to admit this spending addiction is unsustainable,” said McLaughlin.