Democratic Gov. J.B. Pritzker warned Friday the state faces a ballooning budget deficit and bill backlog over the next five years and said new revenue sources are being explored because cuts alone cannot resolve Illinois government’s structural spending imbalance. Still smarting over the loss of his proposed graduated-rate income tax amendment and the revenue that would go with it, Pritzker restated expectations of a $3.9 billion deficit for the budget year that ends on June 30. A forecast from his budget office project deficits of $4.8 billion in the budget year that starts in July and continuing in the $4 billion range annually, including $4.2 billion for the 2026 budget year.
Related posts
-
Geneva to ask voters for money for police, fire station
Geneva voters will be asked to approve borrowing $68 million to build a new police station... -
McHenry woman charged in fatal hit-and-run crash near Island Lake
A 50-year-old McHenry woman is facing charges in connection with a hit-and-run crash near Island Lake... -
Appeals court rejects Trump’s latest attempt to get Friday’s hush money sentencing called off
A New York appeals court judge on Tuesday denied President-elect Donald Trump's latest bid to delay...