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The state’s Commission on Government Forecasting and Accountability has decreased its current-year budget forecast by $728 million, erasing much of a once-predicted surplus that had led Gov. JB Pritzker to float the idea of tax cuts earlier this spring.

Illinois Gov. JB Pritzker recently announced that tax cuts could be in play if state revenues continue to exceed expectations.

Forecasting commission last week upped its projections by a combined $1 billion

Gov. JB Pritzker said he and legislative leaders are considering tax cuts as current-year revenues continue to exceed expectations.

Illinois earlier this week saw its second upgrade of the year and Gov. J.B. Pritzker suggested an uptick in revenue projections could provide room to further bolster fiscal metrics that helped draw the upgrade.

By JERRY NOWICKI Capitol News Illinois jnowicki@capitolnewsillinois.com SPRINGFIELD – With two months to go before the legislature adjourns...

With two months to go before the legislature adjourns and current-year revenues continuing to smash expectations, Gov. J.B. Pritzker said he and legislative leaders are considering tax cuts.

Forecasting commission last week upped its projections by a combined $1 billion

Illinois lawmakers' research arm projects more revenue in the current budget year but warns budget writers to proceed with caution in the next.

A $575 million increase at the end of the fiscal year gives Gov. Pritzker leeway in budget talks as fears of recession persist.