East Central Reporter

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, the House passed the Healthcare Protection Act (HPA) last week, which includes measures to reform insurance by removing prior authorization for crisis mental healthcare and banning step therapy. House Republicans played a key role in negotiating the bill to ensure no enhancements for undocumented immigrants.

Regarding job statistics, Illinois' unemployment rate remained unchanged at 4.8% in March, with the state creating 12,700 new jobs. However, Illinois continues to have a higher joblessness rate compared to the national average.

In legislative news, the Illinois House of Representatives reached its Third Reading deadline last week, passing a total of 324 bills, with a majority being Democrat-sponsored. House Minority Leader Tony McCombie criticized the focus on frivolous legislation like a kangaroo ban instead of addressing crucial issues like illegal immigration and high taxes.

As the General Assembly moves forward, important issues are expected to be addressed in omnibus bills towards the end of the session in May. The session is scheduled to adjourn on Friday, May 24th.

The current political landscape in Illinois reflects a mix of budget challenges, insurance reform efforts, job market stability, and ongoing legislative debates, with a focus on addressing critical issues facing the state and its residents.