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The Illinois Commission on Government Forecasting and
Accountability said April receipts fell $1.8 billion compared to
the same month the year prior. The COGFA report said while a
substantial decline in revenues was anticipated, the extent of
the decline is much steeper than the commission had projected.
The news comes as lawmakers are putting together an annual
spending plan as the spring legislative session winds down.
The main contributor to the falloff was personal income taxes,
which fell $1.7 billion below last April’s levels, a drop of
$1.5 billion on a net basis.
Gov. J.B. Pritzker floated tax cuts if state revenues continued
to exceed expectations, but those are unlikely. Pritzker’s
proposed budget for the next fiscal year is nearly $50 billion,
an 11% increase over last year and an all-time high.
State Rep. Joe Sosnowski, R-Rockford, said the needs of
Illinoisans’ should be the focus of the budget, noting that it
is expected to cost a billion dollars of taxpayer money to
provide health care for undocumented migrant residents in
Illinois.
“We just can’t prioritize nonresidents of Illinois when you’ve
got so many costs for our current residents in infrastructure,
schools, ect. that have pressing needs,” Sosnowski told The
Center Square.
The COGFA report said the substantial declines in April erased
nearly all of the growth accrued throughout the fiscal year.
With two months remaining in the fiscal year, General Funds
receipts in fiscal 2023 are now only $132 million above last
year’s pace. In comparison, at the end of February, fiscal 2023
receipts were $2.5 billion higher than fiscal 2022 year-to-date
levels, which shows the extent that revenues have fallen over
the past two months.
As the July 1 budget deadline looms, Sosnowski said the news
should be a wake-up call for the Democratic majority.
“In some of those areas where they have some priorities that are
out of touch with Illinois residents, I think they’re going to
have some tough internal debates,” Sosnowski said.
Kevin Bessler reports on statewide issues in
Illinois for the Center Square. He has over 30 years of
experience in radio news reporting throughout the Midwest.
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