Illinois tax revenues

State general revenues top $50 billion for first time in FY 2022; pandemic-driven windfalls not expected to last long into current year

July 9, 2022 | By JERRY NOWICKI, Capitol News Illinois

SPRINGFIELD — 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.…