Gov. Pritzker releases forecast showing projected budgetary deficits nearly eliminated

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ILLINOIS (WEHT) – The Governor’s Office of Management and Budget released the annual Illinois Economic Policy Report on Monday.

According to the governor’s office, income and sales tax collections so far this fiscal year exceed budget forecasts by significant margins. Governor JB Pritzker says he intends to pursue several actions to continue Illinois’ strong path forward and put the state in the best possible fiscal position to prepare for economic uncertainty.

 “Illinois’ bills are being paid on time, we have over $1 billion in our rainy-day fund, our credit ratings are up and we are honoring our commitments to long-term financial liabilities by contributing extra to Illinois’ pension systems,” said Governor Pritzker. “As we celebrate the tremendous progress we’ve made with our partners in the General Assembly, we remain committed to working tirelessly for Illinois taxpayers and responsibly managing the state’s finances. We’ve closed a seemingly insurmountable structural deficit that I inherited, and together we are securing Illinois’ long term fiscal stability and providing economic opportunities to its citizens.”

You can read the full report online here.

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November 14, 2022 at 05:55PM

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