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
An annual financial report from Gov. J.B. Pritzker’s office forecasts a gloomy fiscal future for Illinois and pushes his false choice between dire spending cuts or a flawed progressive tax plan.
The governor’s office issued a concerning response to a simple request for the numbers backing up his “fair tax” proposal.
Illinois Gov. J.B. Pritzker has said his first year deficit is $3.2 billion, but he intends to spend hundreds of millions more than planned under previous baseline budgeting.
Despite claims from some state lawmakers that the fiscal year 2019 budget is balanced, official reports to bond buyers admit a deficit of more than $1 billion.
State senators voted to approve the 1,245-page budget just hours after it was made public.
Agreeing on how much money one has to spend is a basic first step of budgeting.