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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.