Pension changes and cuts part of Gov. Rauner’s budget plan

Spending cuts are a large part of Governor Bruce Rauner’s budget plan. Rauner spoke to lawmakers Wednesday afternoon in Springfield.

The Republican says he has a plan to fix the state’s massively underfunded pension system. He says his pension reform plan protects everything state workers have earned to date, but wants everyone going forward to be under a different plan. The exception would be police officers and firefighters.

He says he can save more than $2 billion in the first budget year.

Getting any of his ideas passed will be a challenge since Democrats control the state House and Senate.

Democratic House Speaker Mike Madigan says he doesn’t think you work your way out of a budget deficit by cuts alone. He believes there needs to be new revenue.