Due to its poor financial health and lagging economy, Illinois carries unique economic and fiscal risks from a prolonged market downturn or recession. The state must act now to mitigate harm from COVID-19.View Report
Illinois law requires the governor to propose a budget balanced with existing revenues. To do so, Gov. J.B. Pritzker proposes cutting aid owed local governments, raiding the road fund, letting health insurance costs pile up and withholding taxpayers’ refunds.
Illinois has not truly balanced its budget since 2001 despite a constitutional requirement to do so. A new bill would help change that.