Illinois is dead last of the 50 states in its ability to handle a financial crisis. It couldn’t last a month. The rainy-day fund that should be its primary reserve, and that Gov. J.B. Pritzker lauded himself for refilling, could barely cover two weeks.
The latest forecast from the Illinois General Assembly estimates Illinois will have $737 million to $1.2 billion less in revenue than Gov. J.B. Pritzker hopes to spend.
Newer state employees would get a $13 billion pension benefit boost if Gov. J.B. Pritzker’s fiscal year 2026 budget proposal passes. What should be a minor fix is being used to create an even bigger Illinois pension mess.
Chicago Mayor Brandon Johnson plans to add 50 new speed cameras to city streets during the coming year to add $11.4 million from fines and fees to his deficit budget.
Illinois has some of the highest property taxes in the country. Chapter 9 would allow local governments to address the root cause.
More than 600,000 Illinoisans will have a chance to send a message to state leaders on the most daunting issues, including Illinois’ property taxes.
The “millionaire tax” will increase Illinois’ tax burden without necessarily increasing public funds. Revenue intended for education may fall short of expectations and will likely be absorbed by school administration before reaching students.
Illinois families will pay the second-highest property tax rate in the nation in 2025, spending more than double what the average American family will spend to stay in the same home. That’s driving Illinoisans away.
Illinois had a prime opportunity with increased revenues and COVID relief funds to balance the budget. Instead, the government spent it all and now faces an even larger shortfall.
Of the states most Americans are moving to, 4 of 5 have a flat or no income tax. The states losing the most residents? There again, 4 of 5 have progressive taxes. Illinois’ flat tax is an advantage it should keep.
Gov. J.B. Pritzker’s record $55.2 billion budget for 2026 relies on more than $1.55 billion in newly increased revenue estimates to cover cost. That optimism collides with state agencies’ and experts’ sober predictions, meaning taxpayers are again at risk?
Chicago Mayor Brandon Johnson secured approval for his $830 million borrowing plan but can no longer use the money to benefit his cronies at the Chicago Teachers Union. The city just grew its nearly $41 billion in debt.