Fact check: Pritzker claims fiscal responsibility but report shows ‘fiscal cliff’

By Justin Carlson

07/13/2022

A new report shows Illinois is likely to face financial challenges when the federal stimulus money propping up its current budget runs out. That reality is very different than the Pritzker campaign claims about fiscal responsibility.

TAGS: deficit, government spending, JB Pritzker

Pritzker claims $1.7B surplus while his budget shows $1.5B deficit

02/02/2022

Despite claims during Gov. J.B. Pritzker’s speech, his budget documents show a flood of federal COVID-19 aid temporarily shrank Illinois’ deficit but failed to balance its budget. His next budget will not end well.

TAGS: budget, deficit, JB Pritzker

Illinois spent 6% more than it took in for 15 years, so COVID-19 hit it harder

By Justin Carlson

01/12/2022

From 2005-2019, Illinois revenues totaled just 94% of expenses. The state ran deficits in each of the 15 years prior to the COVID-19 pandemic. Only New Jersey overspent more.

TAGS: COVID-19, debt, deficit, government spending

Foggy crystal ball leads to 21 years of Illinois budget deficits

By Luke Schafer

07/15/2021

The first step of passing a budget is to determine how much is available to spend. Illinois routinely misses the mark in estimating future revenues. There is a solution.

TAGS: budget, deficit, ILGA: Illinois General Assembly, JB Pritzker

Illinois unemployment fund faces potential $8 billion deficit

By Patrick Andriesen

06/21/2021

Historic unemployment payouts related to the COVID-19 shutdowns left Illinois’ fund billions in the hole. State leaders did nothing to fix it, meaning there could be reduced benefits for the unemployed or higher taxes on employers trying to recover.

TAGS: deficit, IDES: Illinois Department of Employment Security

Weak accounting standards enable Illinois budget deficits

By Justin Carlson

02/19/2021

While the private sector is held to a higher standard, rules from the Governmental Accounting Standards Board have enabled Illinois to engage in reckless financial practices that harm taxpayers and the state’s economy.

TAGS: accounting, budget, deficit, Illinois Constitution

While Pritzker talks state worker furloughs, New York delays raises

By Mailee Smith

01/14/2021

Illinois Gov. J.B. Pritzker could delay the $313 million in raises state workers have yet to receive, but instead he’s considering taking $75 million from their paychecks and leaving taxpayers without their services.

TAGS: AFSCME: American Federation of State County and Municipal Employees, deficit, government unions, JB Pritzker

Pritzker calls for $700M in service cuts, silent on pension reform

By Brad Weisenstein

12/17/2020

Illinois’ current budget started out at a deficit, hoped for a tax increase that was rejected and counted on a federal bail-out that never came. Gov. J.B. Pritzker’s best fix is pension reform.

TAGS: budget, COVID-19, deficit, JB Pritzker, pensions

S&P: Illinois faces junk rating, large budget deficit even with progressive tax revenue

10/08/2020

A credit rating agency found Gov. J.B. Pritzker’s ‘fair tax’ would fail to close the state’s deficit or adequately fund essential services.

TAGS: credit rating, deficit, fair tax, Standard & Poor's

Pritzker signs budget out of balance by $6B

06/11/2020

Lawmakers made no serious attempt to balance the new budget, instead counting on a federal bailout.

TAGS: budget, coronavirus, COVID-19, deficit, JB Pritzker