Illinois budget
Gov. JB Pritzker said last week that the extreme uncertainty with the US government and the international economy might mean that the legislature may have to reconvene to reconfigure the state budget after it adjourns at the end of next month. “It may very well be that we’re going to have to come back at…
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State lawmakers will face a projected budget deficit and slowing revenue when they return to Springfield in January, but a new report shows fiscal decisions made in recent years have put Illinois in a better position to handle a recession than any time in recent decades. No state is immune from the negative effects of…
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Illinois business owners are bracing for a potential tax hit from Gov. J.B. Pritzker. The governor’s proposed budget extends the cap on business net operating losses, but increases the cap to $500,000. His office estimates the “revenue adjustment” will raise $526 million, the bulk of the nearly $900 million of tax increases in his $52.7…
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Gov. JB Pritzker has proposed a record-breaking $53 billion budget and is asking Illinoisans to pay an extra $1 billion in taxes in the coming year to cover the costs of a fiscal crisis of his own making — supporting the thousands of noncitizens he invited to Illinois. Since taking office, Pritzker has increased spending on noncitizen programs…
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SPRINGFIELD – Gov. JB Pritzker signed a package of bills Tuesday that make up a roughly $46 billion Fiscal Year 2023 state general revenue funds budget that includes increased funding for education and human services and $1.8 billion in mostly-temporary tax relief. Pritzker signed the bill during a ceremony at Chicago State University where he…
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SPRINGFIELD – Gov. JB Pritzker signed his final first-term budget into law Tuesday, a roughly $46 billion spending plan buoyed by pandemic-driven revenue windfalls and a current-year surplus that helped the state pay down debts and offer temporary tax relief. Between the three budget-related bills signed Tuesday – House Bill 900, House Bill 4700 and Senate Bill 157 – as…
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SPRINGFIELD – Illinois lawmakers worked until the early hours of Saturday to pass a $46.5 billion spending plan for the upcoming fiscal year, as well as a $1.8 billion package of mostly-temporary tax cuts that Democrats said are intended to soften the impact of inflation on working families. The final proposals surfaced around 9 p.m.…
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SPRINGFIELD – Democrats in the Illinois House unveiled their own tax cut proposals and outlined spending tied to recent public safety measures at a news conference Wednesday, just three days before the scheduled Friday adjournment of the 2022 regular session. Those provisions are part of a $45.6 billion spending plan for the upcoming fiscal year…
Read Full Article April 20, 2025
MRN THIS WEEK: QFD CHIEF STEVE SALRIN
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