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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 week left in the spring legislative session, it might historically be a call for the May money magic fr...
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 aren't panicking.
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.
Tax revenue to the state of Illinois dropped a whopping $1.84 billion in April from the...