Governor’s Office of Management and Budget

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Illinois Governor Governor’s office cuts revenue projection by $500M in latest downward estimate

Capitol News Illinois

Governor’s office cuts budget revenue projection by $500M

SPRINGFIELD (Capitol News Illinois) — Gov. JB Pritzker’s office is now projecting state revenues to come in about a half-billion dollars below the baseline projections assumed during his February budget address. The latest downward revision comes as lawmakers are entering the final two-week stretch to approve a budget before their May 31 deadline amid increasing economic uncertainty. While Pritzker’s office blamed changes made by the Trump administration for revenue shortfalls, the new fiscal reality is almost certain to make passing […]

todayMay 16, 2025 41

Illinois Pritzker

Capitol News Illinois

Pritzker must address multi-billion-dollar deficit

SPRINGFIELD (Capitol News Illinois) — The relative ease of budgeting following the pandemic thanks to federal aid and strong tax revenue surpluses for the state appears to be over. Gov. JB Pritzker will present his seventh budget proposal Wednesday as the state faces a projected $3.2 billion revenue shortfall for fiscal year 2026, which begins July 1. Federal pandemic aid has all been allocated and the economy has slowed, leaving tax revenue projections relatively flat for the coming years. On […]

todayFebruary 17, 2025 69

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