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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.
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 Illinois Capitol aren't 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