Illinois is the only state losing population and going downhill. At the same time, The Dark Lord will start pulling federal funds as long as Chicago remains a Sanctuary City. BTW approx 15% of Illinois's budget comes from Federal funds. BAM.
When Gov. JB Pritzker addresses the General Assembly today, he'll lay out his plan to plug a $3 billion-plus deficit in the 2026 state budget.
By Monica eng, Carrie Shepherd and Justin Kaufmann, Axios News
Feb 19, 2025
The big picture: With federal COVID-19 funds drying up and the economy slowing, Pritzker faces the biggest budget crisis of his tenure.
It doesn't help that federal funding is in limbo as the Trump administration considers sweeping budget cuts.
By the numbers: Illinois went from an $890 million surplus last year to a $3.2 billion deficit this year, mostly because health care and pension costs spiked.
The annual state budget is just over $53 billion.
State of play: Pritzker has hinted that new revenue streams are not an option and tax hikes would be a last resort, leaving cuts as the most likely options to balance the budget.
Yes, but: Democratic lawmakers suggested late yesterday that revenue projections have improved.
What they're saying: "It's very important that we live within our means in this state and that we not resort to tax increases as a way to balance the budget," Pritzker said last month.
Friction point: Lawmakers want more money this year, for things like schools.
The other side: Republicans blame the deficit on exorbitant spending by Democrats, who control both the governor's mansion and the General Assembly.
Some are even going further, calling for a DOGE-like audit of state spending similar to what Elon Musk is leading at the federal level.
Rep. John Cabello (R-Rockford) introduced a House bill that would create an Illinois
Department of Government Efficiency.
Zoom in: State Republicans want to target spending on education and identify duplicative local governments for consolidation.
Illinois has the most units of government in the country.
Reality check: The Democrats own the majority in the House, so Cabello's bill is likely dead on arrival.
The bottom line: Wednesday's speech is just the beginning of a months-long negotiation to reach a balanced budget.
What's next: You can watch today's budget address here at 12pm.
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