A recent forecast by the Commission on Government Forecasting and Accountability (COGFA) suggests a significant discrepancy in Governor Pritzker’s revenue projections, revealing a $1.2 billion shortfall in his proposed budget.
The Governor’s budget anticipates $490 million in new revenues that have not yet been approved by the Illinois General Assembly. COGFA estimates that even with these potential revenues, there would still be a $740 million gap compared to projections from the Governor’s Office of Management and Budget.
Governor Pritzker’s plan, if implemented, would set a new spending record for Illinois, marking a 37% increase since he took office. The current fiscal year is already expected to end with a $525 million deficit, indicating misalignment between the Governor’s numbers and the state’s financial realities.
State Senator Sue Rezin commented on the situation: “Illinois deserves a fiscal plan that addresses the state’s challenges without relying on unreliable revenue projections or additional tax burdens on its residents.”
