State general revenues top $50 billion for first time

News Room

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. But a report from the Commission on Government Forecasting and Accountability also noted that the pandemic-related drivers of growth, which led to nationwide revenue windfalls for nearly all state governments, are likely to wane in the coming months.

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