Illinois sets U.S. record: over 2 years late with state spending audit

By Jerry Barmore

09/01/2025

Accounting standards call for annual spending reports within 180 days of the year’s end. Illinois took 774 days to produce its 2023 report, setting a national record for tardiness.

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

Pritzker’s 2026 budget poses short-term fixes, sneaks in new “tax hike”

By Ravi Mishra, Lauren Zuar

02/25/2025

Gov. J.B. Pritzker’s 2026 budget includes record spending, cuts to economic development and overreliance on short-term revenue tricks—including a cleverly hidden tax hike, leaving significant work for the state to reach financial stability.

TAGS: JB Pritzker

Chicago mayor wants to borrow $830M, which could benefit his Chicago Teachers Union cronies

By Dylan Sharkey

02/21/2025

Mayor Brandon Johnson asked to borrow $830 million one day after the city’s credit rating dipping to near-junk status. He would have broad discretion over how to spend the money – including on his friends at the Chicago Teachers Union.

TAGS: Brandon Johnson, CTU: Chicago Teachers Union

Illinois General Assembly OKs $1.1B in tax hikes for record $53.1B spending

By Bryce Hill

05/29/2024

Illinois state lawmakers’ spending plans came in $410 million higher than what Gov. J.B. Pritzker originally proposed. Taxpayers will be forced to pay $1.1 billion more so Illinois can spend record amounts in fiscal year 2025.

TAGS: budget, JB Pritzker, taxes

Illinois has worst rainy-day fund in nation

By Bryce Hill, Dylan Sharkey

04/03/2024

Illinois has the worst rainy-day fund in the nation and has only enough cash to last for 15 days. It’s the only state that wouldn’t last a month.

Pritzker wants to spend record amount but needs $898M in tax hikes to do it

By Bryce Hill

03/01/2024

Gov. J.B. Pritzker’s record-setting $52.7 billion 2025 spending plan needs massive tax increases. Tax changes will hurt individuals, businesses and local governments.

TAGS: JB Pritzker

2024 State of the State: Federal rescue is over, so Illinois needs caution

By Bryce Hill

02/20/2024

The pandemic had an upside for Illinois state finances – infusing federal dollars as state revenues exceeded projections. Now federal aid is gone. Illinoisans’ ongoing struggles warrant caution, reform in the state’s fiscal year 2025 budget.

$6.6B gap in Illinois reserve funds is far from ‘fiscal responsibility’

By Justin Carlson

06/29/2023

Illinois’ rainy-day fund is at an all-time high, but remains $6.6 billion less than recommended by state budget experts. Illinois state government can operate for fewer than 13 days on what it’s saved.

Illinois’ revenue volatility among highest in U.S., threatens budget stability

By Justin Carlson

05/17/2023

Illinois just saw a $1.76 billion drop in state income tax collections, proving what a new study just showed: state tax policies give it the nation’s eighth-most volatile revenues. That also makes Illinois very vulnerable when a recession hits.

Illinois among worst-prepared in nation to weather next recession

By Justin Carlson

01/02/2023

Illinois lawmakers and Gov. J.B. Pritzker reached a deal to pay off $1.8 billion borrowed from the federal government for unemployment benefits during the COVID-19 pandemic. It’s a positive step, but the state remains ill-prepared for the next economic shock.

TAGS: Illinois, unemployment

Susana A. Mendoza

Illinois sets U.S. record: over 2 years late with state spending audit

Pritzker’s 2026 budget poses short-term fixes, sneaks in new “tax hike”

Chicago mayor wants to borrow $830M, which could benefit his Chicago Teachers Union cronies

Illinois General Assembly OKs $1.1B in tax hikes for record $53.1B spending

Illinois has worst rainy-day fund in nation

Pritzker wants to spend record amount but needs $898M in tax hikes to do it

2024 State of the State: Federal rescue is over, so Illinois needs caution

$6.6B gap in Illinois reserve funds is far from ‘fiscal responsibility’

Illinois’ revenue volatility among highest in U.S., threatens budget stability

Illinois among worst-prepared in nation to weather next recession

Chicago Forward 2026: A pro-growth plan to end city budget deficits

Report Archive

Diana Graham

Process for unionizing non-state workers raises red flags

CBS Chicago: Illinois’ highest-paid superintendent receives $400K per year to oversee 1,200 students