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
State senators voted to approve the 1,245-page budget just hours after it was made public.
Every budget through 2023 will likely be unbalanced as well.
About two-thirds of state revenue comes from income and sales taxes.
Fiscal mismanagement by Illinois politicians has resulted in mounting deficits that are hurting the state’s economy, leading to ever-higher taxes, and driving people and their income out of the state.