Bomke: Campaign finance bill will have limited impact

[December 12, 2009]  SPRINGFIELD -- It's been one year since Illinois' former governor was arrested at his home by federal agents, and though Gov. Pat Quinn used the opportunity to sign legislation that he says will target campaign finance abuses, state Sen. Larry Bomke, R-Springfield, said Blagojevich's legacy lingers in Springfield.

On Wednesday, Quinn signed Senate Bill 1466, which he said advanced "groundbreaking" campaign finance reform. Although the legislation would impose Illinois' first-ever contribution limits on individuals, businesses and special-interest groups, political leaders' donations would be limited only during primary elections, allowing for unlimited spending during the general election.

Though expressing support for the contribution limits included in the bill, as well as more stringent transparency and disclosure measures, Bomke said the measure will have limited impact if contribution limits for legislative leaders aren't capped during the general election.

Senate Republicans noted that Illinois failed to capitalize on a unique opportunity to pass truly effective campaign finance reform that would have been appropriate following the scandal and public outcry that followed Blagojevich's arrest, impeachment and removal from office.

Even though Blagojevich was removed from office, Quinn and majority Democrats have left all of his programs and policies in place -- including programs that led to his impeachment and removal.

Additionally, the state's budget woes are as bad as ever, with Medicaid providers and state vendors waiting months to receive payment for their products and services rendered. And, although Quinn vowed to "fumigate" state government, many of Blagojevich's top employees remain employed in state government.

Also, on Tuesday, Moody's Investors Service downgraded Illinois' general obligation debt from A1 to A2, which Bomke said is the ninth downgrade or downward outlook from a credit rating agency since May 2003.

Illinois now has the dubious distinction of being known as the second-worst-rated state, behind California, as determined by all three credit rating agencies: Moody's, Standard & Poor's, and Fitch Ratings. This reflects negatively on the state of Illinois' creditworthiness and is an independent comment on the abysmal condition of the state's finances.

The downgrade, according to Moody's, was influenced by Illinois' budget imbalance, which Moody's put at an $11.6 billion budget deficit, and state government's failure to take action to fix Illinois' budget gap in time to reverse the trend of financial decline.

The financial ratings firm noted that some of the state's major challenges, aside from the "high structural imbalance," include "revenue shortfalls and spending pressures," which lead to "narrow operating fund liquidity"; payment delays and a "reliance on inter-year borrowing"; and the state's overwhelming pension debt and its obligation to pay retiree health care benefits.

Though Quinn blamed the downgrade on the national recession and struggling economy, as well as the policies advanced by the Blagojevich administration, Moody's said the state's financial descent was exacerbated by political infighting that "prevented timely budget adoption and led to other negative outcomes."

Despite Quinn's criticism of the previous administration's policies, he and majority Democrats have not reversed any of Blagojevich's programs and policies.

[Text from file sent on behalf of Sen. Larry Bomke by Illinois Senate Republican staff]