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Illinois general revenues

Capitol News Illinois

Illinois general revenues top $50 billion for first time

Pandemic-driven windfalls not expected to last long into current year

SPRINGFIELD (Capitol News Illinois) – State tax revenues grew by $5.5 billion in the fiscal year that concluded on June 30, exceeding $50 billion for the first time in Illinois’ history, according to a new report from a state budgeting agency. The 12 percent base revenue growth in Fiscal Year 2022 gave lawmakers near-unprecedented flexibility in the current budget year. That allowed the General Assembly to approve $1.8 billion in tax relief, pay $500 million more to state pensions than […]

todayJuly 8, 2022 2

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