Emergency Funding Will Soon Be Cut Due to State Budget

There is even more fallout from the lack of progress on the state budget deal.

Illinois Treasurer Michael Frerichs announced Tuesday that the state has lost millions of dollars in investment income because of the budget stalemate in Springfield. It will be a full year in July that the state has been without a budget.

The political standoff between Gov. Bruce Rauner and General Assembly Democrats has seemingly no end in sight. 

Without a deal by the start of the new budget year on July 1, more than $9 billion in emergency funding that's kept universities, domestic violence shelters and food stamps going will run out. 

There is no funding for primary and secondary schools which could put opening on time in jeopardy. 

On Tuesday House Speaker Michael Madigan announced the House will not be in session today. Madigan said bipartisan working groups will continue to meet and discuss some of the key issues standing in the way of progress. 

Rauner addressed the annual meeting of the Illinois Chamber of Commerce Wednesday and said he will not back down from his push for pro-business, union-weakening reforms.