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Illinois' revenue picture improves as economy recovers

SPRINGFIELDÂ â Illinois budget officials said Thursday that revenues are flowing into state coffers at a faster pace than previously estimated, meaning lawmakers will have more money to work with as they try to finalize a new budget for the fiscal year that begins July 1.
The Governorâs Office of Management and Budget officially raised its revenue estimate for the current fiscal year by more than $1.4 billion and by $842 million for the upcoming fiscal year.
Those figures are similar to the latest revised estimates from the General Assemblyâs budget monitoring agency, the Commission on Government Forecasting and Accountability, which said last week that revenues for the current year would go up about $2 billion while next yearâs revenues would be $792 million more than previously forecasted. ....

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Illinois IDES unemployment agency asks for millions more in budget, plans to reopen offices

SPRINGFIELD, Ill. (WLS) The Illinois Department of Employment Security is asking for millions more dollars in its budget after an unprecedented year.
Wednesday marks one year since IDES closed its offices across the state. What followed was a chaotic scramble to handle a historic surge in applications for unemployment benefits. Now, the agency is asking for millions as it seeks to re-open.
For fiscal year 2022, the department is requesting $450.4 million all-funds appropriation including a $133.9 million increase in federal funds spending authority over the current fiscal year, said IDES Acting Director Kristin Richards at today s Senate Budget hearing.
Her agency is one of the very few approved by Governor JB Pritzker to ask for money. ....

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State Rep. Patrick Windhorst Says Governor's Budget Proposal Will Hurt Small Businesses

State Rep. Patrick Windhorst Says Governor s Budget Proposal Will Hurt Small Businesses
A Southern Illinois lawmaker says the Governor Pritzker’s proposed budget presented on Wednesday will hurt small businesses in Illinois.
On Wednesday Governor JB Pritzker outlined his $41.6 billion-dollar budget.
State Representative Patrick Windhorst of Metropolis says the corporate tax changes in the budget will add an extra burden to already struggling businesses.
“Economic growth is key to reversing our states declining population and solving our long-term fiscal challenges, the governors proposed budget eliminates economic reforms and business incentives that spur economic growth, the proposed budget relies on $900 million dollars tax increases on small businesses at a time when they can least afford it.” ....

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Capitol Recap: Governor's budget focuses on corporate tax changes

In case you missed it this week: Gov. J.B. Pritzker s budget proposal, Michael Madigan s resignation, new teaching standards, winter storm news, COVID vaccine updates and more. ....

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Read Gov. Pritzker's Full State of the State and Budget Address

As you’ve probably noticed, this State of the State speech looks a lot different than it has in the past. Standing inside a crowded room to deliver a formal address is not possible right now – nor would it be appropriate. But the people of Illinois need to hear from their Governor about where we are and where we’re headed – regardless of how unprecedented the times.

Nearly no one alive today has lived through anything that could have prepared them for the past year. To gain perspective on these last 12 months, I looked for an anchoring moment in our history – a moment that can remind us of what we can endure and survive together. ....

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