Gov. JB Pritzker will give his sixth budget address Wednesday in Springfield. Here’s what to know as the governor prepares to share his spending plan.
Get Familiar With the Budget Timeline
Pritzker’s address kicks off the annual budget negotiating process that lasts through May. The Illinois General Assembly will have to approve a budget before the 2025 fiscal year begins July 1. (And if they don’t? Refer to the Illinois budget impasse of 2015–2017 in your history books.)
Could There be a Deficit?
Illinois could be facing an almost $900 million shortfall next year if spending stays on pace, according to a November report by the Governor’s Office of Management and Budget.
That’s because of pension contributions and other costs expected to rise faster than revenue, according to the Tribune.
Plus, the state has less financial cushion compared to recent years when the state had federal COVID-19 grants, WTTW reported.
In fact, Illinois is set to end this fiscal year with a projected $422 million.
What Could be in Proposed Spending Plan?
- 🏡 Last week, Gov. JB Pritzker pledged another $182 million in state funds to help new arrivals find shelter and other services.
- 🩺 Health care for noncitizens was debated last budget season, and a modified program could be expanded this year.
- 🎒 Education is the state’s largest area of discretionary spending. Pre-K-12 and higher education leaders are seeking more money.
