The statement references Welch’s “continued effort to prioritize shared leadership among a diverse group of members, and says the group as a whole “has unmatched institutional knowledge that will greatly benefit the budget negotiation process.”

Heading the panel will be Majority Leader Greg Harris of Chicago, who has led budget efforts in recent years but will be retiring at the end of the year.

Also serving will be Rep. Will Davis of Homewood, who chairs the House Appropriations Committee for elementary and secondary  schools; Revenue Committee Chairman Mike Zalewski of Riverside; veteran lawmaker and Latino leader Rep. Elizabeth Hernandez of Cicero; and health care specialist Rep. Robyn Gabel of Evanston.

Gov. J.B. Pritzker is expected to unveil his budget plan next month.