Page 3 - Eric Noggle News Today

Thanks to $3.8 billion in federal aid — much of it related to the coronavirus pandemic — Illinois collected a record-setting total of $53.1 billion in revenue for the just-completed

Springfield, Ill. (AP) — April's plummeting general funds receipts — a drop of $1.84 billion from the previous year — is stunning in anyone's estimation. But budget-makers at the state Capitol aren't panicking. Compared with 2022, revenue fell a whopping 23% last month, driven by a drop of $1.76 billion in personal income tax, according to the legislative Commission on Government Forecasting and Accountability. On its face, that would seemingly cause jitters and with one wee...

Tax revenue to the state of Illinois dropped a whopping $1.84 billion in April from the year before. But those drafting the state budget arent panicking.

Aprils plummeting general funds receipts — a drop of $1.84 billion from the previous year — is stunning in anyones estimation. But budget-makers at the state Capitol arent panicking.

Tax revenue to the state of Illinois dropped a whopping $1.84 billion in April from the...

Tax revenue to the state of Illinois dropped a whopping $1.84 billion in April from the year before. But those who are drafting the state budget at the Capitol aren't panicking. The Legislature's Commission on Government Forecasting and Accountability says it's not that April was such a bad month as that April 2022 brought record revenue.

Gov. J.B. Pritzker pointed out that the budget he proposed last winter for the fiscal year that begins July 1 relies on estimated revenue of $49.94 billion.

Aprils plummeting general funds receipts — a drop of $1.84 billion from the previous year — is stunning in anyones estimation. But budget-makers at the Illinois Capitol arent panicking.

Illinois budget-makers are largely at ease, despite a nearly $2 billion revenue drop. The disparity is being chalked up to an unusually strong 2022 fiscal year.

Revenues, still higher than initial estimates, would be enough to fund Pritzker's proposed budget By JERRY NOWICKI Capitol News Illinois