By East Central Reporter Reports |
Apr 25, 2024
The Commission on Government Forecasting and Accountability (CGFA) has released a three-year budget forecast for Illinois, covering fiscal years 2025, 2026, and 2027. The forecast highlights various revenue trends, with Illinois personal income tax revenues projected to increase by more than $4.2 billion by FY27.According to CGFA, all three budget projection scenarios for the FY25-FY27 period show significant and growing State deficit spending, with the most realistic scenario predicting a general funds deficit of $6.581 billion in FY27.In the realm of insurance reform,...